Subscribe Free
in Defence / Maintenance

IDEX: Lockheed Martin and SAMI form JV for new Saudi MRO operation

Posted 24 February 2021 · Add Comment

Lockheed Martin and Saudi Arabian Military Industries (SAMI) are to develop a new joint venture in Saudi Arabia to produce, maintain and repair both rotary and fixed-wing aircraft, as well as missile defence systems.

The new venture was signed on the sidelines of the IDEX show in Abu Dhabi.  The Saudi company will own 51% and the American contractor 49%.  Eng. Walid Abukhaled, CEO of SAMI, and Tim Cahill, senior vice president of Lockheed Martin signed the agreement.  

Abukhaled said: “In keeping with the objectives of the Saudi Vision 2030 program, SAMI has been exploring avenues to help build a sustainable, self-sufficient military industries sector in the Kingdom, and our strong and enduring partnership with Lockheed Martin underpins our commitment.

“The agreement to establish a new Joint Venture represents a major step forward to realizing our ambitious goals, and we look forward to tremendous outcomes in the near future. It also supports PIF’s efforts through SAMI in localizing cutting-edge technology and knowledge, as well as building strategic economic partnerships,” he added

 

 

Other Stories
Advertisement
Latest News

Gulf Air to transform Falconflyer programme

Gulf Air has selected IBS Software as a partner to enhance its Falconflyer loyalty programme (FFP) and provide Gulf Air with the flexibility to adapt its Falconflyer programme to meet the needs of travellers and enhance its members

NAS and World Economic Forum partner to share traveller vaccine records

National Aviation Services (NAS) has partnered with the World Economic Forum to enhance safe air travel by using its KuwaitMosafer platform to share Kuwait’s vaccine records with countries and airlines across the globe.

Etihad Airways celebrates the UAE’s Year of the 50th

Etihad Airways has unveiled a year-long programme in celebration of the 50 years since the nation was established. The programme will launch in three phases, focusing on the past, the present and looking forward to the future.

Bombardier completes 100th Global 7500 business jet wing

Bombardier is celebrating the completion of the 100th wing for its Global 7500 business jet, a significant milestone for the industry-leading aircraft and for the company’s facility in Red Oak, Texas, where the advanced wing is

Emirates and Sheraa sign MOU

Emirates has signed an MoU with Sharjah Entrepreneurship Center (Sheraa) to strengthen and expand the entrepreneurship ecosystem in the UAE.

Sanad closes US$ 55M financing deal with Commercial Bank of Dubai

Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company and the global aerospace engineering and leasing solutions leader, has closed a US$ 55 million debt financing deal with the Commercial Bank of Dubai, one of the

WDS SK2601090322
See us at
Aviation Africa 2021 BTNNAviation MENA 2021World Defence Show 2022DAS21_BT