Mahindra signs JV with UAE companies for vehicle armour
01 Jul 2010: Mahindra & Mahindra Ltd. along with its subsidiary MOICML (Mahindra Overseas Investment Company Mauritius Ltd.), Arabia Holdings and Ras Al-Khaimah Transport Investments LLC have signed an agreement to create a joint venture company in the Emirate of Ras Al Khaimah in the UAE for armouring of vehicles.
Mahindra & Mahindra, through its Division, Mahindra Defence Systems (MDS) has over the past six years acquired a leadership position in India in the field of vehicle armouring and brings to the Joint Venture its considerable experience in the design and development of ballistic kits for vehicle protection.
Arabia Holdings Ltd. has diverse business presence in the UAE in the business of transportation, logistics and real estate. They are based out of the Emirate of Ras Al Khaimah and bring with them their expertise in exporting armoured vehicles from the local markets together with its existing relationship with various agencies.
Ras-Al-Khaimah Transport Investments LLC has been established by the Ras-Al-Khaimah Transport Authority for partnering with Mahindra and Arabia in the Joint Venture. The Joint Venture will cater to the high potential markets of West and Central Asia as well as Africa. The JV would launch a number of MDS’ armoured vehicles such as the Marksman, the up armoured Scorpio, cash in transit van, etc which have been very successful in India. The JV is being set up in the UAE because of the low cost of manufacturing in the free zone of Ras Al-Khaimah and owing to its proximity to the GCC countries, African and Central Asian sub-continents ensuring easy access to these markets.
8ak - Indian Defence News