PARIS --- Saudi Arabian Military Industries (SAMI) today signed a memorandum of understanding (MoU) with ST Engineering, a global technology, defence and engineering group specializing in the aerospace, electronics, land systems, and marine sectors, to identify and explore commercial opportunities in the Kingdom of Saudi Arabia to collaborate in land, aviation, naval, electronics, and weapons and ammunition sectors, as well as future systems.
Dr. Andreas Schwer, CEO of SAMI, said: “The agreement with ST Engineering represents SAMI’s commitment to establishing and strengthening industry partnerships to accelerate Saudi Arabia’s journey towards localizing half of its military spending, increasing local content, boosting exports, and attracting foreign direct investment as envisaged in the Saudi Vision 2030. We are keen on leveraging the expertise and capabilities of ST Engineering to realize our overarching goal of establishing a sustainable military industries sector in the Kingdom.”
Vincent Chong, President & CEO of ST Engineering, said, “We are delighted to ink the MoU with SAMI, which cements the intent between the two companies to explore how we can work together to help modernize and enhance the defense capabilities of the Kingdom of Saudi Arabia, which is a key market for the ST Engineering Group.
“Given our proven technological and defense solution expertise, as well as core competencies in the aerospace, electronics and marine sectors, I am confident that we will be able to identify areas in which ST Engineering can provide strong and value-added support to the Kingdom.”
Signed at the International Paris Air Show, the MoU will entail introducing the 8x8 Terrex 2 platform to the Royal Saudi Land Forces (RSLF), developing a next-generation Infantry Fighting Vehicle (IFV) for RSLF, and exploring partnership in MRO capability for commercial and military customers.
In addition, it will include building ships and naval crafts, examining scope for participation in C-130 upgrade and development of a new transport aircraft, and helping modernize the Saudi electronics manufacturing industry.