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Industry

IDD, Black Pearl Capital sign MoU

19 May 2014

Jordanian vehicle engineering company Industrial Design and Development (IDD) has signed a memorandum of understanding (MoU) with asset management firm Black Pearl Capital (BPC), the companies announced on 19 May.

The MoU covers collaboration in the oil and gas equipment manufacturing and defence sectors, with efforts to initially focus on BPC-owned industrial manufacturing company CEEM in the UAE.

IDD provides design services, systems engineering, remanufacture and integration of special systems for military vehicles. It is part of the King Abdullah II Design and Development Bureau's (KADDB's) Investment Group, which has a mandate to establish new defence and security businesses and support industries.



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