Business Investment

Saudi Arabia’s SAMI signs EUR 900 million defence deal with Navantia

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Thursday 12, September 2019 BY Kuda Muzoriwa

The new agreement will focus on system engineering and architecture, hardware design as well as software ‎development, testing and verification, prototyping, simulation, and modelling.

SAMI-Navantia, a joint venture between Saudi Arabian Military Industries (SAMI) and Spain’s Navantia signed a EUR 900 million (SAR 3.7 billion) deal to adapt Navantia’s combat management systems for Saudi navy corvette ships, according to Saudi News Agency.

The parties signed an agreement last year to jointly manufacture five corvettes for the Saudi navy.

The deal is expected has to boost the localization of the Kingdom’s technology capabilities by up to 60 per cent and benefit other Saudi organisations.

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