Dubai: South African defence company Paramount Group and India’s Bharat Forge have signed an agreement to jointly manufacture armoured vehicles in India.
The agreement was signed by both companies during the second day of the International Defence Expo (IDEX 2021) held in Abu Dhabi.
Bharat Forge said it received an order worth Rs 177.95 Crores from the Indian Ministry of Defence for the supply of Kalyani M4 vehicles. It is modelled on Paramount’s Mbombe 4 armoured vehicle which has seen international success in a number of markets.
“We are very pleased to partner with Paramount Group - this collaboration brings together the manufacturing and technology excellence of two leading companies, which have matching synergies and complementary capabilities,” said Amit Kalyani, Deputy Managing Director, Bharat Forge.
“The Kalyani M4 is based on one of our flagship armoured vehicles designed specifically for in-country production in India with our partners the Kalyani Group. We are proud that it will be made in India,” said Ivor Ichikowitz, Chairman of Paramount Group.