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Saudi Military Industries reveals details of its project with Airbus

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The Saudi Military Industries Company revealed the signing of a joint venture agreement with “Airbus” in the field of services, maintenance, repair and overhaul in the military aviation sector.

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Saudi Military Industries launches a joint venture with

In a statement, the Saudi company explained that the capital of the joint venture will reach $200 million by 2030 and will be divided between 51% for the Saudi side and 49% for the French side represented by Airbus.

The company indicated that “the joint venture with “Airbus” will play a pivotal role in developing the local military industries sector as a step to achieve self-sufficiency for the Saudi defense system, create job opportunities for national competencies, and advance economic development in line with the objectives of Saudi Vision 2030.”

The Saudi Military Industries Company had announced the launch of a joint venture with the French company Vijac Aero and Saudi Dussur to build an aircraft structure factory in the Kingdom.

Source: RT + “Reuters”

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