Subscribe Free
in Defence

Saudi Arabian Military Industries and Paramount Group sign agreement

Posted 4 July 2019 · Add Comment

Saudi Arabian Military Industries (SAMI) and Paramount Group have signed a high-level defence collaboration agreement, in step with Saudi Arabia’s vision for the creation of an integrated defence industrial ecosystem.

 

The multiple collaboration agreement between SAMI and Paramount Group will see the development of technologies and capabilities across the land, sea and air domains, as well as system integration, in support of Vision 2030, Saudi Arabia’s economic development plan, which sets an ambitious objective to increase the domestic share of military equipment expenditure to 50% by 2030.

CEO of SAMI, Dr. Andreas Schwer, said: “The collaboration between SAMI and Paramount Group will play a large part in helping to achieve the objectives of Saudi Vision 2030. This will contribute significantly to further enhancing the capability of Saudi Armed Forces and increasing local content, in addition to creating new job opportunities and training for Saudi youth to increase their contribution and raise their role in this vital industry and the national economy in general.

He added: “Paramount Group has an established track record of working in partnership with customer countries, helping to create local defence industrial capabilities through technology and skills transfer. We believe there are many synergies between our companies that can be leveraged to build the defence industrial capability that Saudi requires.”

Group Chairman of Paramount Group, Ivor Ichikowitz, said: “Saudi Arabia is important to Paramount Group as much of the technology that we have created over the years has been developed with the Middle East in mind. We share the vision of the Crown Prince and his economic development plan. We are sensitive to the requirements of our customers to establish strategic industrial capability and put a strong focus on assisting governments in creating domestic manufacturing capacity.”

He added: “Paramount Group has, for many years, been a world leader in the development of technology for asymmetrical conflict, primarily from our experience we had in Africa. Both the technology and expertise now have huge relevance to the security realities facing the Middle East. We have also invested very heavily in developing some of the most modern land forces, aviation, and naval platforms in the world. These platforms have allowed us to compete amongst the best in the world for both developed markets, as well as emerging markets.”

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Qatar Airways and Malaysia Airlines announce codeshare expansion

Qatar Airways has expanded its codeshare cooperation with Malaysia Airlines, starting from 27 January 2020.

Airbus demonstrates first fully automatic vision-based take-off

Airbus has successfully performed the first fully automatic vision-based take-off using an Airbus Family test aircraft at Toulouse-Blagnac airport.

TAV adds Palm Beach to its lounge portfolio

Turkish airport operator TAV Operations Services’ has added to its portfolio of airports following Washington-Dulles and New York JFK Airports in the USA with Florida Palm Beach International Airport.

Gulf Air adds Nice to its route network

Commencing from July 2020, the airline will offer two weekly flights operated by an Airbus 321neo aircraft.

Universal establishes new ground support base in Istanbul

Universal Aviation, has opened Universal Aviation Turkey, based at Ataturk Airport in Istanbul to provide supervisory ground support for business aircraft at all airports across Turkey.

Turkey’s launches flights to Medina and Batumi

Pegasus Airlines has expanded its network with the launch of two new routes.

Sofex SK2611020420
See us at
AVAFA20BT2607050320SaudiAirshow21BT2011180221AVMENA20 BT1309100620MRO_BT161219260220Sofex BT2611020420AIME BT0801260220FIL20BT140124720