Turkish defense contractor Aselsan and International Golden Group from the United Arab Emirates are set to launch a joint venture in Kazakhstan, World Bulletin reports.
Turkish defense contractor Aselsan and International Golden Group from the United Arab Emirates are set to launch a joint venture in Kazakhstan.
The joint venture will become operational in the first half of this year with Aselsan and the IGG holding 49 percent and 51 percent of the shares, respectively, Aselsan said in a regulatory filing on Monday.
The venture will be designed to meet needs of the UAE and other countries of the Gulf.
Aselsan also said it had signed a separate agreement to set up joint venture a with Kazakh government, which would hold 50 percent of the shares. Aselsan will hold 49 percent and Turkey's Defense Industry Undersecretariat will hold 1 percent of the shares.