SAMI to invest up to $1.8bn in partnerships, acquisitions — CEO

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Thu, 2021-01-28 15:21

BEIRUT: Saudi Arabian Military Industries (SAMI) is planning to invest up to $1.8 billion (SR7 billion) during the coming period, in strategic partnerships, projects, and certain acquisitions, CEO Walid Abukhaled told Asharq News in an interview on the sidelines of the Future Investment Initiative (FFI) summit.

SAMI is also aiming at localizing over 50 percent of government military purchases by 2030, in line with the government’s goal for the Kingdom to be self-sufficient.

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