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FINANCIAL NEWS
UAE’s Tawazun partners with Algeria’s GPIM for military vehicles
29 Jul 2012
(MENAFN) Abu Dhabi-based Tawazun Holding has partnered with Algeria’s Groupement de la Promotion de l’Industrie Mecanique (GPIM) to create a military armored vehicle manufacturer, Arabian Business reported.
The joint venture will see the new company produce UAE-designed armoured vehicles in Algeria under license from Nimr, a subsidiary of Tawazun.
The new entity will first produce more than 200 4×4 armored vehicles on set up completion.
Tawazun said the partnership will open the door for further access into the African defense market.
The JV will produce two variations of Nimr 4×4 vehicles for the Algerian market over the next 15 years for a demand forecast of 2,500 cars, and extend into other African customers afterwards.
The Nimr team in the UAE will work with its Algerian counterparts on human capability training and development to build up the skills of the over 300 Algerian work force.
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