Home- Stories -Saudi Arabia Signs Deals Worth $1.8bn at World Defense Show

Saudi Arabia Signs Deals Worth $1.8bn at World Defense Show

Our Bureau - : Mar 9, 2022 - : 10:14 am

The Saudi Ministry of Defense(MoD) has signed 10 deals worth SR7 billion (US$1.8 billion) with local and international companies such as Hanwha, Alsalam Aerospace Industries and Norinco at the ongoing World Defense Show in Riyadh.

Among the major deals was one with Korean defence major Hanwha. The SR3 billion contract will improve the defence capabilities of the Royal Saudi Land Forces and will also support localization efforts and supply chain services. The

The MoD also signed three different contracts worth SR1.7 billion with local company Alsalam Aerospace Industries for providing maintenance services for the Royal Saudi Air Force. Naval Arabia Group was the beneficiary of a contract worth SR800 million that is aimed at providing technical support services to Royal Saudi Navy Forces vessels.

Among the other deals signed were with the GDC Middle East, worth SR400 million, to provide technical support for the Royal Saudi Air Force’s C130 aircraft. The ministry also signed a SR430 million deal with Chinese company Norinco and a SR460 million contract with Poongsan Corporation for the supply of different types of ammunition for the General Directorate of Arms and Ammunitions.

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