RIYADH: Saudi Arabian Military Industries and the General Authority for Defense Development signed two deals on Monday worth SR664 million ($177 million) to support the sector’s development over the next four years, the Saudi Press Agency reported.
The contracts mean that SAMI will partner with national defense development centers and Saudi universities to meet the requirements of defense and security authorities, and connect them to companies which will manufacture their designs.
Faleh bin Abdullah Al-Sulaiman, governor of the authority, said that the contracts were the first in a series of programs to help stimulate the Kingdom’s defense sector.
He went on to emphasize the importance of investing in national universities that had specialized departments in this field.
SAMI CEO Walid Abukhaled affirmed the company’s role in localizing defense industries, in line with Saudi Vision 2030.
The contracts also outline investment in developing communication systems, and surveillance and counter drone technology.
