Turkish Aselsan, UAE to launch joint firm in Kazakhstan
Turkish defense contractor Aselsan and the UAE's International Golden Group are set to launch a joint venture in Kazakhstan, the agency reports.
Almaty. February 22. Kazakhstan Today - Turkish defense contractor Aselsan and the UAE's International Golden Group are set to launch a joint venture in Kazakhstan, the agency reports.
Turkish defense contractor Aselsan and International Golden Group from the United Arab Emirates are set to launch a joint venture in Kazakhstan, World Bulletin reported.
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 Turkish Defense Industry and Undersecretariat for Defense Industries will hold 1 percent of the shares.
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