Saudi Arabian Military Industries (SAMI) announced on Friday that it has concluded a deal with Figeac Aero, a French company specializing in the manufacture of components used in the construction of aircraft.
The agreement, for a joint venture to build an airframe-manufacturing facility in Saudi Arabia, was signed at the Paris Air Show at Le Bourget Airport, the world’s largest aviation and aerospace event. SAMI will own the majority of the shares in the new entity, which will manufacture metal components for military and commercial aircraft. The joint project is set to last for two-and-a-half years.
“We are delighted to partner with a world-class company such as Figeac Aéro, and look forward to working closely with them in the future,” said SAMI CEO Andreas Scheuer.
“This project is the foundation of aircraft-manufacturing industries and will enhance our local capabilities in line with the objectives set out in the Saudi Vision 2030 reform plan. By building solid foundations for original manufacturing, we will be able to achieve significant cost savings and ensure a safer future for the Kingdom and its people.”

SOURCE : ARABNEWS