Saudi Arabia has signed an agreement with Raytheon Saudi Arabia to host “deep maintenance and refurbishment” work on Raytheon-built Patriot air and missile defense systems, according to the Saudi Press Agency.
The agreement, announced on 28 December, is the first major step in an effort by Saudi Arabia, a major arms importer, to boost its domestic defense industry and diversify its oil export-dependent economy, the press agency said.
The General Authority for Military Industries (GAMI), which Saudi Arabia created in 2017, aims to “localize” 50% of Saudi spending on military equipment and services by 2030, up from less than 5% today. Saudi Arabia is a long-time user of Patriot and other US-built military equipment.
Ahmed al-Ohali, governor of Saudi Arabia’s General Authority for Military Industries (GAMI), said the agreement with Raytheon reflected the authority’s efforts to develop Saudi’s military industries and its research and technology capabilities, state news agency SPA reported.
He did not say how many jobs would be involved, the value of the agreement, or the location of any work being moved or localized.
Riyadh-based Raytheon Saudi Arabia supports the Kingdom’s Vision 2030 economic program by creating skilled jobs for Saudis in defense, aerospace and cybersecurity through partnerships with Saudi private sector companies and local universities, according to the company’s website.
SOURCE : ALBILAD
