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Signed by "Saudi Military Industries" and "Navantia" .. A strategic partnership with a localisation rate of up to 60%
Under the patronage of HRH Prince Mohammed bin Salman, Crown Prince and Deputy Prime Minister and Minister of Defense, and in the presence of Spanish Prime Minister Mariano Rajoy, and in order to achieve the vision of the Kingdom of 2030 and his declaration to localise 50% of military spending by 2030, (SAMI) and Navantia Marine Industries have entered into a joint venture agreement that manages and localises all work related to ships' combat systems, including their installation and consolidation.. The two parties also signed a memorandum of intent to design and build 5 Avante 2200 combat frigates with a combat management system for the benefit of the ministry of defense of Saudi Arabia.
Ahmed Al Khatib, Chairman of the Saudi Military Industries Company, said that the agreement aims to achieve the vision of the Kingdom of 2030 and to activate the Crown Prince's declaration to localise 50% of the military spending by 2030. The Saudi Military Industries Company, His Royal Highness Prince Mohammed bin Salman Al-Tamhoufa is currently looking for all possible opportunities for cooperation to build a well-established and independent military industry in the Kingdom. He stressed that Spanish company Navantia is committed to partnership with Saudi Arabia and is determined to expand its presence in the Saudi market and the regional market.
At the launch of its operations, the joint venture will mainly deal with all aspects of marine combat systems from project management, installation and linkage of combat systems, systems engineering, system design, hardware and software development, testing and simulation systems development.
The agreement will strengthen the relationship between Navantia, the Saudi company for military industries (Sami). The joint venture will also contribute to enhancing the readiness of the armed forces, as well as creating about 1,000 jobs and training, thus enhancing the Saudis' contribution to the industry and driving the ambitious 2030 vision.
The project aims to localise more than 60% of all work related to the combat systems on ships, including the installation and integration on ships in Saudi Arabia; the objectives of this partnership are, the transfer of technology of marine combat systems from the management of projects and the installation and linkage of combat systems, examination and systems engineering and systems design development and testing of hardware and software and development of simulation systems.
The total revenue of the project is expected to exceed $ 8 billion, and to create about a thousand jobs by 2030, the size of investments amounting to $ 150 million in facilities and equipment within the Kingdom.
This partnership comes from the fruits of the initiative to localise the military industries announced by Prince Mohammed bin Salman within the vision of 2030, which aims to raise domestic military purchases from the current level of nearly 5% to 50% by 2030.
One of the requirements of all contracts signed by the Ministry of Defense is to achieve the necessary local content, such as the construction of boats and ships within Saudi Arabia, which will provide thousands of jobs for Saudi engineers and technicians.
https://sabq.org/6PZqgd
Under the patronage of HRH Prince Mohammed bin Salman, Crown Prince and Deputy Prime Minister and Minister of Defense, and in the presence of Spanish Prime Minister Mariano Rajoy, and in order to achieve the vision of the Kingdom of 2030 and his declaration to localise 50% of military spending by 2030, (SAMI) and Navantia Marine Industries have entered into a joint venture agreement that manages and localises all work related to ships' combat systems, including their installation and consolidation.. The two parties also signed a memorandum of intent to design and build 5 Avante 2200 combat frigates with a combat management system for the benefit of the ministry of defense of Saudi Arabia.
Ahmed Al Khatib, Chairman of the Saudi Military Industries Company, said that the agreement aims to achieve the vision of the Kingdom of 2030 and to activate the Crown Prince's declaration to localise 50% of the military spending by 2030. The Saudi Military Industries Company, His Royal Highness Prince Mohammed bin Salman Al-Tamhoufa is currently looking for all possible opportunities for cooperation to build a well-established and independent military industry in the Kingdom. He stressed that Spanish company Navantia is committed to partnership with Saudi Arabia and is determined to expand its presence in the Saudi market and the regional market.
At the launch of its operations, the joint venture will mainly deal with all aspects of marine combat systems from project management, installation and linkage of combat systems, systems engineering, system design, hardware and software development, testing and simulation systems development.
The agreement will strengthen the relationship between Navantia, the Saudi company for military industries (Sami). The joint venture will also contribute to enhancing the readiness of the armed forces, as well as creating about 1,000 jobs and training, thus enhancing the Saudis' contribution to the industry and driving the ambitious 2030 vision.
The project aims to localise more than 60% of all work related to the combat systems on ships, including the installation and integration on ships in Saudi Arabia; the objectives of this partnership are, the transfer of technology of marine combat systems from the management of projects and the installation and linkage of combat systems, examination and systems engineering and systems design development and testing of hardware and software and development of simulation systems.
The total revenue of the project is expected to exceed $ 8 billion, and to create about a thousand jobs by 2030, the size of investments amounting to $ 150 million in facilities and equipment within the Kingdom.
This partnership comes from the fruits of the initiative to localise the military industries announced by Prince Mohammed bin Salman within the vision of 2030, which aims to raise domestic military purchases from the current level of nearly 5% to 50% by 2030.
One of the requirements of all contracts signed by the Ministry of Defense is to achieve the necessary local content, such as the construction of boats and ships within Saudi Arabia, which will provide thousands of jobs for Saudi engineers and technicians.
https://sabq.org/6PZqgd
