Saudi Arabian Military Industries
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| Company type | SOE |
|---|---|
| Industry | Military manufacturing |
| Founded | 2017 |
| Headquarters | , |
Key people | Ahmed Al Khateeb (chairman) Andreas Schwer (CEO) [1] |
Saudi Arabian Military Industries (SAMI) is a state-owned defense company launched in May 2017 by Saudi Arabia’s Public Investment Fund (PIF).[2][3]
Activities
SAMI was established to provide military products and services in Saudi Arabia and to reduce the country’s reliance on foreign purchases of military products.[3]
The company operates across aeronautics; land systems, including military vehicles; weapons and missiles; and defence electronics.[4]
SAMI’s reported targets include the contribution of 14 billion riyals (US$3.7 billion) to the Saudi economy by 2030, 6 billion riyals (US$1.6 billion) investment in research and development and the creation of 40,000 jobs.[3]
Partnerships
In May 2017, SAMI signed Memoranda of Understanding (MoU) with defense contractors Boeing, Lockheed Martin, Raytheon and General Dynamics.[5]
In October 2017, SAMI signed a Memorandum of Understanding with Russia's Rosoboronexport to manufacture military equipment in Saudi Arabia.[6] The agreement provides for the transfer of technology for the local production of the S-400, the Kornet-EM system, the TOS-1A, the AGS-30 and the Kalashnikov AK-103.[7][8]
References
- ^ Haracic, Armin (2 November 2017). "Saudi military industries firm names former Airbus, Rheinmetall exec as CEO". Defense News. Retrieved 19 December 2017.
- ^ "Saudi Arabia launches military industries company". Reuters. 18 May 2017. Retrieved 19 December 2017.
- ^ a b c Carey, Glen; Shahine, Alaa (17 May 2017). "Saudi wealth fund starts defense company to meet military needs". Bloomberg. Retrieved 19 December 2017.
- ^ "Saudi Arabia launches national state company for military industries". Al Arabiya. 18 May 2017. Retrieved 19 December 2017.
- ^ Paul, Katie (31 October 2017). "Saudi state-owned defence company SAMI taps Rheinmetall executive as CEO". Reuters. Retrieved 19 December 2017.
- ^ "Saudi Arabia signs agreement to manufacture Russian weapons locally". Al Arabiya. 5 October 2017. Retrieved 19 December 2017.
- ^ "Saudi Arabia agrees to buy Russian S-400 air defense system: Arabiya TV". Reuters. 5 October 2017. Retrieved 19 December 2017.
- ^ Binnie, Jeremy (6 October 2017). "Saudi Arabia and Russia sign S-400 MOU". Jane's Defence Industry. Retrieved 19 December 2017.
| This article, Saudi Arabian Military Industries, has recently been created via the Articles for creation process. Please check to see if the reviewer has accidentally left this template after accepting the draft and take appropriate action as necessary.
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