Saudi Arabia’s SAMI signs defence venture deal with US Lockheed Martin

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Sun, 2021-02-21 17:00

LONDON: Saudi Arabian Military Industries (SAMI) has signed an agreement to set up a joint venture with US firm Lockheed Martin to enhance the Kingdom’s defence and manufacturing capabilities, the company announced on Sunday.

SAMI will own 51% of the venture and it aims to create local job opportunities, train Saudi nationals, scale up local manufacturing capabilities and localize military industries in the Kingdom, Saudi Press Agency (SPA) reported. 

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