Riyadh – Mubasher: Saudi Arabian Military Industries (Sami) has closed an agreement with French aerospace company Figeac Aéro to build aerostructures manufacturing plant in the kingdom.
The plant is planned to be located in Riyadh or Jeddah and will be managed and operated by qualified Saudi engineers and technicians, according to a statement.
This project represents the backbone of the aircraft manufacturing industries, and will further strengthen our homegrown capabilities, in line with the goals outlined in the Saudi Vision 2030,” Sami’s CEO Andreas Schwer said.
Sami will hold a majority stake in the project, which will include manufacturing of military and commercial aviation metallic components.
"After four years spent investigating the Saudi ecosystem with several potential partners, we are now convinced that our future joint venture partnership with Sami will enable Saudi Arabia to develop its own manufacturing capabilities,” chairman and CEO of Figeac Aéro Jean-Claude Maillard commented.
