February 18, 2019 (Google Translation) – The Saudi Military Industries Company (SAMI) and France’s Naval Group, which specializes in maritime defense, have signed a memorandum of agreement under which a Saudi company in the field of Saudi maritime defense will be established.
The signing of the agreement was signed on the sidelines of the International Defense Exhibition “IDEX” 2019, which was launched yesterday in the UAE capital Abu Dhabi. The agreement sets out the framework for the establishment of this joint venture, in order to strengthen Saudi Arabia’s efforts to support the settlement of basic skills and capabilities in the Saudi military manufacturing world.
The new company will be at the forefront of the Royal Navy’s naval programs and will support all current and future requirements for modern marine defense systems, including full lifecycle support for these systems.
Commenting on the agreement, Dr. Andreas Schweer, Chief Executive Officer of Saudi Military Industries (SAMI), said: “This memo is the cornerstone of a strategic partnership between us and the Naval Group, reinforcing the commitment of the Saudi Military Industries Company to support the Kingdom’s efforts in developing its defense capabilities and self-sufficiency. “The joint venture is an opportunity to benefit from the expertise and use of the Naval Group to help its partners develop their marine capabilities and thus create an integrated system for the military industries in the Kingdom.”
“Through our advanced design, manufacturing and maintenance activities, the new company will significantly enhance the capabilities and capabilities of our Saudi Arabian Navy,” added Dr. Shweer.
Based on the long-standing partnership between Saudi Arabia and the French Naval Group, the joint venture aims to play a pivotal role in achieving the objectives of the Kingdom’s Vision 2030 by increasing local content and providing excellent job opportunities for Saudis.