Saudi Arabia signed a preliminary agreement on Sunday with France’s Naval Group to build warships in the kingdom, as part of its efforts to develop domestic manufacturing capabilities.
ABU DHABI (Reuters) – Saudi Arabia signed a preliminary agreement on Sunday with France’s Naval Group to build warships in the kingdom, as part of its efforts to develop domestic manufacturing capabilities.
Saudi Arabian Military Industries (SAMI), the kingdom’s state defense company, made the announcement at the IDEX military exhibition in Abu Dhabi, a show piece event for Saudi Arabia’s close ally the United Arab Emirates.
Saudi Arabia, among the top five defense spenders in the world, has been fighting a costly war in Yemen since 2015 in support of the internationally recognized government against the armed Houthi movement.
The latest agreement includes building warships, frigates, corvettes and related items in Saudi Arabia through a majority SAMI-owned joint venture with the French firm, SAMI Chief Executive Andreas Schwer told reporters.
