Paramount Group of South Africa opens new armoured vehicles factory in Kazakhstan 10612153.

KPE is the joint venture between Paramount Group, the African-based global defence and aerospace business, and Kazakhstan Engineering Distribution. The establishment of armoured vehicle manufacturing in Kazakhstan follows the technology transfer and local manufacturing model championed by Paramount Group globally, and realized through strategic alliances with governments and strong local partners.

The Founder and Executive Chairman of Paramount Group, Ivor Ichikowitz said: "The Governments of South Africa and Kazakhstan have committed themselves to closer economic and industrial cooperation, through reciprocal visits of the Deputy Ministers of Foreign Affairs, and this new factory is the first concrete manifestation of our cooperation. We are confident that more will follow. We are privileged to enjoy the support of the President and his Government for this unique collaboration that is already driving a new wave of innovation in defence technologies and attracting interest in other parts of the world."

"As a leading company in the global aerospace and defence industry, Paramount Group partners with countries such as Kazakhstan and co-invests in developing new manufacturing capabilities, transferring technologies, advancing skills development, and creating new products and services through long-term collaborations such as this one. We take pride in the contribution we make in working with Governments to improve security and the protection of their citizens and their sovereign territory.

Chairman of Kazakhstan Engineering, Yerlan Idrissov said: "The KPE factory is designed for complete end-to-end fabrication and the local manufature of finished products. Through this investment we are actively going to create substantial local capability by training young engineers in armoured vehicles manufacturing and other skills.

"We have a total of 70 personnel now and will reach around 120 over coming months. Our intention is for the factory to serve the local and regional markets."

Ichikowitz concluded: "Few countries have created strong economies without a robust defence industrial complex, and globally we are working with governments to reap not only the benefits of increased security and stability, but also the economic growth dividend achieved by a home-grown defence industry."

"Kazakhstan has established an outstanding investor-friendly climate, and together with the high levels of skills and the government's vision of a diversified high tech economy, the country has proven to be an ideal partner for us. There are significant synergies, capabilities and innovation within our partnership and we are very excited by the joint Research and Development (R&D) and production that we are undertaking. "