Cape Town - Spanish shipbuilder Navantia, and the African-based Paramount Group have signed a Memorandum of Understanding (MOU) that would benefit South Africa and other African countries, the Paramount Group said on Friday.
The African-based global defence and aerospace company, Paramount Group said that it has signed a MOU with Navantia which would see the two companies work together to “jointly develop naval systems and vessels that will meet the increasing demand of South Africa and other African states, for innovative and value-adding maritime solutions to bolster the security of their marine and coastal assets”.
Navantia President José Manuel Revuelta and Paramount Group: Group Director Eric Ichikowitz signed the agreement at the Pretoria residence of Ambassador of Spain to South Africa, Juan Sell.
The MOU is an extension of a previous agreement between the two companies, which was signed for the BIRO project, and said Revuelta, is a “basis for cooperation on new business opportunities in South Africa and other countries in the region and broader international market”.
The partnership, said Ichikowitz, would enable the companies to bring “21st century solutions to protect African maritime assets by meeting their specific requirements and budgets”.
Ichikowitz added: “We are driven to create and build customised vessel solutions that our clients can afford to own and operate”.
Through this joint initiative, the needs of South Africa’s maritime industry, as well as that of other African countries would be met.
These needs would span across Life Support Management, Combat Systems and Platform Systems Integration, Procurement Management of materials and equipment, Operational Maintenance Training and the Transfer of Technology.
Revuelta said: “Navantia and Paramount have been collaborating in the last months on a joint offshore patrol vessel proposal for Project BIRO for the South African Navy”.
The agreement, the group said, caters to “a growing need to protect and secure Africa’s coastlines, great lakes and rivers, and political and economic assets, including oil pipelines, shipping lanes, fisheries, tourist areas and national borders”.
Navantia brings to the table extensive experience in the “design and construction of world-leading technology naval vessels and systems, transfer of technology, and through-life cycle support provides a key benefit to offer well-proven, low risk and value for money solutions for customers”.
The Paramount Group on the other hand, brings insights in naval security, and a commitment to ” growing an innovative and competitive shipbuilding industry in South Africa, supporting the goals of Operation Phakisa, by growing the local shipbuilding industry, increasing the contribution to GDP and multiplying the number of jobs in South Africa”.
AFRICAN NEWS AGENCY