Spanish Shipbuilder Navantia has signed a memorandum of understanding (MoU) with Africa's Paramount Group to jointly develop naval systems and vessels to meet the increasing demand of the African region.
The new projects will support African countries to secure their marine and coastal assets with innovative maritime solutions, the company stated.
The new development also expands previous agreement between the two companies.
Navantia president Jose Manuel Revuelta said: "Navantia and Paramount have been collaborating in the last months on a joint offshore patrol vessel proposal for Project BIRO for the South African Navy.
"An excellent relationship between both companies has been established and this agreement is a step further that sets the basis for cooperation on new business opportunities in South Africa and other countries in the region and broader international market."
Under the new MoU, the companies will work together across five key areas, including through life support management, combat systems and platform systems integration, procurement management of materials and equipment, operational maintenance training and the transfer of technology.
Paramount Group international marketing director Eric Ichikowitz said: "New oil and gas resources are being discovered every month and those resources, together with industries like tourism and fisheries, are critical to the growth of African states.
"We are committed to growing an innovative and competitive shipbuilding industry in South Africa, supporting the goals of Operation Phakisa, by growing the local shipbuilding industry, increasing the contribution to GDP and multiplying the number of jobs in South Africa."
In September, Navantia delivered the Algerian Navy's logistic support and landing ship, after completing repair, modernisation and life extension works.
The modernisation work on the vessel, named 472 BDSL Kalaat Beni Hammad, was carried out by Navantia Ferrol Estuary.
Image: Officials of Navantia and Paramount Group during the signing ceremony. Photo: © Navantia.