EADS, a leader in aerospace, defense and related services, has signed a Memorandum of Understanding (MoU) with the Kazyna Fund for Sustainable Development for a strategic partnership in the development of the aerospace industry and related services in Kazakhstan. This agreement envisages feasibility studies for the financing of aerospace projects. The Kazyna Fund for Sustainable Development, a joint-stock company, was established in April 2006 in order to improve the system of state administration and management in the area of industrial and innovative development and to create favorable conditions for economic growth in the country and to achieve a competitive edge.
With its Kazakh partners, EADS intends to contribute to the development of the aerospace industry and related services in Kazakhstan through its broad know-how and experience in various aerospace sectors. EADS has also signed a MoU worth around $1 B with the Kazakh titanium company UKTMP and the metals and alloys specialists Aubert & Duval (A&D).
Marwan Lahoud, chief strategy and marketing officer of EADS, stated, “These two agreements are key milestones in the development of our strategic relationship with the Republic of Kazakhstan.”