Defense firm Paramount in talks to set up production facilities in Saudi

South Africa-based defense firm Paramount Group is in talks with the Saudi Arabian government to establish production facilities in the Kingdom, Reuters reported, citing chairman Ivor Ichikowitz.

“We are in negotiations with various governments in the Middle East, including Saudi Arabia, with a view to transferring technology and establishing production in those countries,” Ichikowitz said.

He said Saudi Arabia would be a focus for the Paramount Group over the next couple of years.

Paramount manufactures military vehicles, aircraft, ships, and weapons systems. The group has set up in-country manufacturing capabilities before, including in India and Jordan.

“We see the Middle East as an important growth market for us,” Ichikowitz said, adding that Paramount was pursuing several campaigns to sell vehicles and aircraft to Middle East countries.

He did not disclose specific details, the news agency said.