The Saudi Arabian Military Industries Company (Sami) and French ship builder Naval Group signed an agreement to build warships for the first time as part of the kingdom’s efforts to boost its homegrown defence industry.
“We plan to sign the final contract soon,” Andreas Schwer, chief executive of Sami, said on the sidelines of the ongoing IDEX 2019 in Abu Dhabi. Financial details and the size of the investments were not disclosed.
State-owned Sami will hold a 51 per cent stake in the JV with the Naval Group to manufacture corvettes, frigates and submarines in Saudi Arabia. “Our joint venture agreement with Naval group laid the foundation of a strategic partnership that will reinforce Sami’s commitment to helping Saudi Arabia develop self-sufficient defence capabilities,” said Dr Schwer. He also added that the joint venture will significantly contribute to further enhancing the capabilities and readiness of Royal Saudi naval forces.
Sami also signed an agreement with the UAE-based Mubadala Investment Company to collaborate across aerospace, defence manufacturing, maintenance, repair and overhaul, research and development and engineering.
“This represents a historic moment for the global aerospace and defence industries in setting up an aligned aerospace and defence strategy between the UAE and KSA (Kingdom of Saudi Arabia),” said Badr Al Olama, Director of Aerospace and Defence, Mubadala.
“Through our strategic collaboration, we have identified a number of areas for potential partnership in the manufacturing, R&D and MRO space that can utilise the deep experience of the UAE in growing international partnerships and establishing a regional ecosystem.”
Terma has received a purchase order from the Danish Ministry of Defence Acquisition and Logistics Organisation (DALO) concerning system integration…
Iran has not used a hypersonic missile in its recent attack on Israel, but but Israel has accelerated its efforts…
Toyota Motor Corporation is set to invest an additional $500 million in Joby Aviation, a company focused on developing electric…
LATAM Airlines Group is set to retrofit four more Boeing 777 aircraft with AeroSHARK, a surface film technology designed to…
Boeing successfully completed the first flight of the AH-6 Little Bird light attack helicopter for the Royal Thai Army (RTA)…
At the recent MRO Asia Pacific event in Singapore, HAECO and Boeing signed a new deal to cover spares and…
ST Engineering's Commercial Aerospace business has secured a 15-year exclusive MRO contract with Akasa Air, India’s fastest growing airline, to…
BBN Airlines Indonesia, a new entrant in the country’s aviation sector, has officially commenced operations after receiving its Air Operation…
The French defence procurement agency (DGA) has selected Exail to develop an Autonomous Underwater Vehicle (AUV) capable of operating at…
Regional Air Mobility company Lilium has completed the first systems power-on milestone of its all-electric Lilium Jet. The successful test…
Embraer has signed an Industrial Cooperation Agreement (ICA) with the Czech Ministry of Defense (MOD). The strategic agreement aimsto enhance…
Plaza Premium Group (PPG), a provider of airport hospitality services, has opened its Plaza Premium First lounge at Macau International…
HENSOLDT, a sensor solution provider, has partnered with DFS, the German air navigation service provider, to advance the use of…
The continued clashes between Israel and the Houthi rebels in Yemen signal that the Suez Canal and the Red sea…
Pratt & Whitney, an RTX business, has officially opened a new 845,000-square-foot facility in Oklahoma City, marking the company’s largest…
Cebu Pacific, a low-cost carrier based in the Philippines, has finalised a firm order with Airbus for 70 A321neo aircraft,…
In view of the growing tension between Israel and some of the Iranian proxies in the region, the Israeli ministry…
The Indo Defence, Indo Aerospace, and Indo Marine 2024 Expo & Forum, which was originally set to take place from…
The Franco-German defence group KNDS, a key partner of the Ukrainian land forces, has established a subsidiary in Kyiv. The…
Deutsche Aircraft has announced a partnership with Weerts Group for the construction of its Final Assembly Line (FAL) at Leipzig/Halle…
Savunma Teknolojileri Mühendislik ve Ticaret A.Ş. (STM) and Bahçeşehir University (BAU) are set to develop ocean sensing systems aimed at…
Naval Group has formalised a contract to deliver four Barracuda Family expeditionary submarines to the Netherlands, as announced during a…
Challenge Group has announced the expansion of its operations in India by introducing two weekly flights to Delhi, commencing on…
ECS Group’s subsidiary, AVS GSA, in partnership with Thai Vietjet and Lactasoy, has launched an initiative to assist flood-affected communities…
Liebherr-Aerospace and Egyptair Maintenance & Engineering have signed a three-year contract for the maintenance of heat transfer equipment on Airbus…
Rheinmetall, a German technology group, and US-based Honeywell have signed a memorandum of understanding (MoU) to explore strategic cooperation on…
SATS Ltd has signed a three-year agreement with the International Air Transport Association (IATA) to expand the implementation of DG…
Semi Conductor Devices (SCD) has launched the Sparrow HD, a mid-wave infrared (MWIR) sensor module aimed at improving detection and…
As global air traffic demand exceeds pre-pandemic levels in 2024, airlines are turning their attention to fleet expansion, according to…
In recent months, the Houthi rebels in Yemen, an Iranian proxy, managed to shoot down a number of U.S-made MQ-9…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.