Defense and Security Development Fund of the United Arab Emirates' Tawazun Economic Council will receive a 36 percent share in the joint venture that produces Russian luxury car Aurus, Russian Industry and Trade Minister Denis Manturov said on Monday
ABU DHABI (Pakistan Point News / Sputnik - 18th February, 2019) Defense and Security Development Fund of the United Arab Emirates' Tawazun Economic Council will receive a 36 percent share in the joint venture that produces Russian luxury car Aurus, Russian Industry and Trade Minister Denis Manturov said on Monday.
Tawazun, Russia's automobile company Sollers and NAMI State Research Center, the developer of the car, signed a relevant agreement at the IDEX-2019 arms exhibition in Abu Dhabi.
"Under the agreement, the Tawazun fund will receive a 36 percent share in LLC Aurus ... Tawazun fund will also be the main distributor of Aurus lineup in the countries of the middle Eastern and North Africa," Manturov said.
Last July, the Russian Industry and Trade Ministry announced that Tawazun signed an agreement on entering a joint venture for manufacturing Aurus vehicles, in which it would invest 110 million Euros ($124 million).
