Riyadh – Mubasher: South Africa-based Paramount Group is holding discussions with Saudi government to build enterprises for producing weapons in the kingdom, Ivor Ichikowitz said on Monday.
The arms company is also holding discussions with various governments in the Middle East, aiming to transfer weapons technology and establish facilities for production in these nations, Reuters reported, citing Ichikowitz as saying.
“We see the Middle East as an important growth market for us [and] Paramount was pursuing several campaigns to sell vehicles and aircraft to Middle East countries.” Paramount’s chairman added.
The South African firm has plans to implement large investments in Saudi in the coming two years.
Paramount is specialised in manufacturing aircrafts, ships, military vehicles, and weapons systems.
In May 2017, the Saudi Public Investments Fund (PIF) announced establishing the Saudi Arabian Military Industries (SAMI) which aims to improve arms industry in the kingdom to be ranked between the international largest 25 companies by 2030.
