SAMI Navantia Naval Industries (SAMI-Navantia), a joint venture between Saudi Arabian Military Industries (SAMI) and Navantia S.A., yesterday signed a EUR900 million (approximately SAR 3.7 billion) contract with the Spanish shipbuilder Navantia to collaborate on Combat System Integration (CSI) on the Avante 2200 corvettes for the Royal Saudi Naval Forces (RSNF).
The contract will contribute to the development of Saudi Arabia's defense ecosystem through the transfer of technology and creation of new job opportunities, in line with the Saudi Vision 2030 objective of localizing 50% of total military spending by 2030. The agreement has the potential to boost the localization of the Kingdom's technology capabilities by up to 60% and benefit other Saudi organizations.
The contract was signed at SAMI's booth in the Defense and Security Equipment International (DSEI) 2019 exhibition, taking place at ExCeL in London, United Kingdom, in the presence of H.E. Ahmed Al-Khateeb, Chairman of SAMI, Susana de Sarri, 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 sides.
