Paramount defence and aerospace group secures 50-50 joint venture with Kazakhstan government to build armoured vehicles SA’S LARGEST privately owned defence and aerospace group, Paramount Group, has clinched a 50-50 joint venture deal worth more than R1bn with the government of Kazakhstan to establish a new armoured vehicle factory in that country.The project will have direct spinoffs for the local economy as Paramount’s subsidiaries in SA will be supplying specialised components to the plant, which will serve as a base for exports throughout the region.Paramount beat European and US rivals in clinching the deal.The new facility will be the largest armoured vehicle production plant in Central Asia, with the capacity to manufacture more than 200 vehicles per year.Paramount executive chairman Ivor Ichikowitz said from London on Wednesday that the factory would produce the world’s most advanced armoured vehicles to meet the regional demand.The factory has started the production of an i...
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