€900million contract gets signed up between SAMI-Navantia and Navantia for localizing 60% of naval industries and ToT
SAMI Navantia Naval Industries (SAMI-Navantia) a joint venture between Saudi Arabian Military Industries (SAMI) and Navantia S.A., signed up a €900million (approximately SAR 3.7 billion) contract yesterday with Spanish ship builder. Navantia will team up with Combat System Integration (CSI) on the Avante 2200 corvettes for the Royal Saudi Naval Forces (RSNF).
In line with Saudi Vision 2030's aim to localize 50% of total military expenditure by 2030, the contract will help to develop the defense ecosystem of Saudi Arabia through technology transfer and the creation of new jobs. The agreement is capable of enhancing the location and advantages of other Saudi organizations for up to 60% of the Kingdom's technology capabilities.
The contract was signed at ExCeL in London, United Kingdom at the SAMI booth of the 2019 International Defense and Security Equipment Exhibition (DSEI) in the presence of H.E. Ahmed Al-Khateeb, Chairman of SAMI, Susana de Sarriá, Chairwoman of Navantia S.A., Dr. Andreas Schwer, CEO of SAMI, Antonio Rodriguez-Barberan, CEO of SAMI-Navantia, as well as other officials from both parties.
SAMI-Navantia CEO Antonio Rodriguez-Barberan, stated that: "When we embark upon a historic journey to realize Saudi Arabia's ambitions to localize the military and Defense industries of the Kingdom, this new partnership agreement represents an important achievement in the SAMI-Navantia region. This creates a great opportunity to build on the extensive experience of our strategic partner in the design, construction and integration of warships in order to build our own skills in the domain.”
"Our contract with SAMI-Navantia underlined the commitment of Navantia to hold up Saudi Arabia in its development of industrial capabilities in the defense sector, Susana de Sarriá, Chair of Navantia, said. He also added that, This will provide a strong basis for a long-term cooperation between SAMI and Navantia which will be mutually beneficial.
In addition to CSI, the newly signed up agreement among SAMI-Navantia and Navantia will focus on system engineering and architecture, hardware design, software development, testing and verification, prototyping, simulation, and modeling, as well as logistical support and training programs.