Saudi Military Industries Company (SAMI) announced the signing of a memorandum of understanding (MoU) with three companies belonging to the Hanua Group of South Korea to settle military industries in the Kingdom.
The MoU was signed by the Chief Executive Officer of the Saudi Military Industries Company, Andreas Schweier, and the CEO of Hanwa Defense Co., Song Soo Lee.
The proposed project is to be established as a limited liability company under the initial name of Sami-Hanawa Ammunition Systems, and the company will be based in Riyadh. The initial stages of the project will focus on the manufacture and sale of munitions within the Kingdom.
During the subsequent phases of the project, the possibility of strengthening the project's technical capacity and expanding production lines to include munitions, weapons, missiles, artillery systems, combat vehicles, defense systems, naval systems, command and control systems, communications, computer and intelligence, and intelligence and surveillance systems (ISRs) will be evaluated.
0 Comments