Riyadh - Mubasher: SAMI Navantia Naval Industries signed a EUR 900 million (around SAR 3.7 billion) contract with Spanish shipbuilder Navantia to collaborate on combat system integration (CSI) on the Avante 2200 corvettes for Saudi Arabian navy.
The agreement will transfer technology to Saudi Arabia and create jobs in the kingdom, which comes in line with the Saudi Vision 2030 objective of localising 50% of total military spending by 2030, according to a company statement released on Thursday.
“This new partnership agreement represents a landmark achievement for SAMI-Navantia as we embark on a historic journey with the objective of realising Saudi Arabia’s ambitions to localise the kingdom’s military and defence industries,” CEO of SAMI-Navantia, Antonio Rodriguez-Barberan, said.
The new contract will also focus on system engineering and architecture, hardware design, software development, testing and verification, prototyping, simulation, and modelling, along with logistical support and training programmes.
“Our contract with SAMI-Navantia underlines Navantia's commitment to supporting Saudi Arabia in developing its industrial capabilities in the defence sector. This will provide a strong foundation for long-term, mutually beneficial cooperation between SAMI and Navantia,” chairperson of Navantia, Susana de Sarriá, commented.
It is worth noting that SAMI Navantia is a joint venture between Saudi Arabian Military Industries (SAMI) and Navantia.
