Ashraf Abo Arafe
The Saudi Military Industries Company (SAMI) has signed a memorandum of agreement with three large Hanawan conglomerates, Hanwha Corporation, Hanwha Defense and Hanwha Systems, to discuss the possibility of a joint venture in Saudi Arabia, Saudi military.
The agreement was signed by Chief Executive Officer of the Saudi Military Industries Company Andreas Schweer and Hanwa Corporation representatives Hanwha Defense CEO Song Soo Lee.
Under the terms of the memorandum, the proposed project will be established as a limited liability company under the initial name of Sami-Hanwa Ammunition Systems, to be based in Riyadh. The initial stages of the project will focus on the manufacture and sale of munitions within the Kingdom.
The assessment of the possibility of strengthening the technical capacity of the project and the expansion of production lines to munitions, weapons, missiles, artillery systems, combat vehicles (combat), defense systems and naval systems, command and control systems, communications, computer and intelligence (C4I) Surveillance and reconnaissance.
He pointed out that the efforts exerted by the Hanwa companies for more than 60 years have contributed to the settlement of defense products imported from abroad and to achieve self-sufficiency in the Republic of Korea and to promote economic growth. The three Hanwa arms are a strategic partner for Saudi Arabia in its efforts to achieve the objectives of the Kingdom’s Vision 2030.
* About!
SAMI was founded in May 2017, a national company owned by the Public Investment Fund, and operates four major business units – air systems, ground systems, weapons, missiles and defense electronics.
