Turkish defense contractor Aselsan and the International Golden Group
(United Arab Emirates) plan to open a joint venture in Kazakhstan in
the first half of 2011. Aselsan will have a 49% share, IGG - 51%,
KazTAG reports.
The enterprise will operate to fulfill the demands of the UAE and
other countries of the Persian Gulf.
Aselsan says that they are preparing a deal with the Kazakh
government. The new joint venture will give Kazakhstan a 50% share,
Aselsan - 49% and 1% will belong to the Turkish committee for defense
industry. Kazakhstan Engineering said on February 17 that they had
negotiations with Aselsan.
Kazakhstan Engineering and Aselsan signed a memorandum on May 27,
2010, establishing new high-tech production process. The project is
worth over $40 million. It involves construction of a plant and
opening of workplaces for 100-175 high-skilled specialists.
Aselsan was founded in 1975, it specializes in development and
production of radars, communication systems, targeting systems, mass
alerting systems, avionics, optics, control systems, microelectronics
for missiles. IGG is the manufacturer of defense products in UAE.
