Arab Today, arab today kaddb paramount group sign partnership agreement
Last Updated : GMT 06:15:24
Arab Today, arab today
Arab Today, arab today

KADDB, Paramount group sign partnership agreement

Arab Today, arab today

Arab Today, arab today KADDB, Paramount group sign partnership agreement

Amman - Petra

The King Abdullah II Design and Development Bureau(KADDB) through its commercial and investment arm KADDB Investment Group (KIG),has announced a strategic joint venture with Paramount Group, Africa’s largestdefence and aerospace business in a move that will see the production of battletested and proven defence technologies in Jordan for armed forces across theMiddle East and North Africa.The newly created defence company, Arabian Defence Industries (ADI) which wasannounced at the Special Operations Forces Exhibition & Conference (SOFEX) inAmman signals an important milestone in the continuing growth of the defenceindustrial capability in the Middle East.The joining of these two world leaders has created a formidable force whichpositions it as a leader in defence industrialization in the region giving it theadvantage of integrating cutting edge capabilities and technologies across landsystems and aerospace.ADI will be able to rapidly respond to its customers by providing bespoke solutionsto meet their diverse and dynamic requirements.The signing of the joint venture agreement by the Chairman of KIG, Shadi-Ramzial-Majali and the Executive Chairman of Paramount Group, Ivor Ichikowitz will befollowed by announcements revealing details of joint industrialisation programmes,including the major production of military equipment, the integration of defencesystems and development of innovations by the new defence company.Al-Majali said: “ADI brings together leaders in defence and aerospace innovation in a strong and unique partnership which will deliver world class technologies andsolutions, from the latest in armoured vehicle technologies to sophisticatedaerospace technologies, including modernisation and upgrade capabilities offighter and rotary wing aircraft for the specific requirements of defence forces inthe region.”Ivor Ichikowitz, Executive Chairman of Paramount Group said: “Through ADI it isour intention to transfer skills, technology and advanced defence capability into theMiddle East. It is our intention to develop manufacturing facilities, establishresearch and development facilities, and create a strong Middle East – Africanpartnership that will be extremely beneficial as these two regions come together.“It is a great privilege to partner with the King Abdullah II Design and DevelopmentBureau through its investment group, KIG. This is an organisation that we respect, ithas a reputation for innovation and there are great synergies between ourorganisations that will bring huge benefits to our customers.”“In South Africa we have a strong developed defence and aerospace industry. We have the capability to compete effectively with Europe and the US. Our industry hasbuilt a track record over many decades for groundbreaking innovations andtechnologies. The creation of ADI is a breakthrough for a new era of defencecollaboration between Africa and the Middle East that will result in an upsurge ofinnovation, skills development and job creation in both regions.” Added Ichikowitz“The Middle East is a natural defence partner for South Africa. This new partnershipwith Paramount will strengthen industrialisation across the Middle East. The regionis moving away from being consumers of defence and aerospace technologies to themanufacture of our own products and technologies. It is here where our respectiveindustries have found important synergies that will act as a catalyst for innovationand industrialisation.” added Al-Majali.He concluded: “ADI is the nucleus of an Arabian defence company that will inviteother partners to participate and become the pre-eminent Arabian defence player. We are already supported by a number of governments in the Middle East whichmakes the establishment of ADI one of the most exciting developments in thedefence industry today.

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Arab Today, arab today kaddb paramount group sign partnership agreement Arab Today, arab today kaddb paramount group sign partnership agreement

 



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