• The move comes in line with a Kingdom-wide vision towards a fully sustainable defense sector by 2030

Arab News

RIYADH: PIF-owned Saudi Arabian Military Industries signed a deal with Chicago-based Boeing to develop a joint venture aimed at scaling up the Kingdom’s aviation sector.

The agreement will strengthen Saudi Arabia’s defense capabilities by providing maintenance, repair, and overhaul services for military platforms, according to a statement by SAMI.

“This JV will serve to meet the needs of the growing aviation sector in the Kingdom and paves the way for more fruitful cooperation in the coming years,” said Ahmed Al-Khateeb, SAMI board chairman.

We are pleased to announce a preliminary agreement with @Boeing the world's largest aerospace company to enter into a Kingdom-focused joint venture #SAMIBoeing

— SAMI (@SAMIDefense) April 10, 2022

SAMI CEO Walid Abukhaled stated that “the JV is a first step toward a broader strategic partnership between SAMI and Boeing in the future.”

The move comes in line with a Kingdom-wide vision towards a fully sustainable defense sector by 2030.