Politics & News

Saudi Arabia to sign military contracts with US, EU & Chinese companies

The Saudi Ministry of Defense announced, on Wednesday, that it had concluded 33 contracts with local and international companies, with a total value of nearly SAR 20 billion ($5.3 billion), during the activities of the International Defense Exhibition held in the capital, Riyadh.

The contracts signed by the Saudi Ministry with international companies included a contract with the US Company “Lockheed Martin Global Inc” for the Air Force, amounting to more than one billion riyals ($266 million), to acquire comprehensive sensor systems for localization and sustainability.

The ministry also signed a contract with the Chinese company “Poly Technology” for the benefit of the air defense forces, with an estimated amount of SAR 370 million ($ 98 million) to acquire defense systems for the air defense forces.

On the sidelines of the International Defense Exhibition, which started last Sunday, the Saudi Ministry of Defense also concluded two contracts with the French company “Thales Group”, amounting to SAR 1.5 billion (399 million dollars), to acquire defense systems and technical and logistical support. It also signed two contracts with a company US “Raytheon”, with a value of SAR 2 billion ($ 533 million).

The Saudi Ministry signed a contract with the Swiss company “Rheinmetall” “, amounting to more than SAR 260 million  ($69.3 million), to provide logistical support services and support for air defense systems.

It also signed a contract with the US company “Aerovision”, amounting to SAR100 million ($26.6 million) to provide logistical support services for Boeing 707 aircraft.

The contracts signed by the ministry with local companies included 5 contracts with the Saudi Military Industries Company, two contracts for the land forces, and 3 contracts for their naval counterpart, with a value of 6 billion riyals ($1.59 billion), as the contracts included the acquisition of communications systems and military vehicles, in addition to securing ammunition and sustaining several marine systems.

With an amount exceeding one billion riyals, the Ministry of Defense signed a contract with the General Corporation for Military Industries, for the benefit of the Air Force, to acquire defense systems that include technical, logistical support, and training.

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