Arab News, Thursday, Nov 8, 2018 | Safar 30,1440
Saudi Arabia and Spain launch joint venture to build five corvettes
The Saudi Arabian
Military Industries company (SAMI) and the Spanish state-owned shipbuilding
company have launched a joint venture to design and build five cutting edge
SAMI and Navantia S.A. signed an agreement in April to create SAMI Navantia
Naval Industries during a visit by Crown Prince Mohammed bin Salman to the
The venture will build five Avante 2200 corvettes and combat management systems
for the vessels for the Saudi Ministry of Defense.
A signing ceremony was held in Riyadh on Tuesday attended by Ahmed Al-Khateeb,
chairman of SAMI, and the chairman of Navantia, Gonzalo Alcazar.
The new project is expected to contribute to efforts by the Saudi Arabian
Military Industries company to localize 50 percent of military spending in line
with Vision 2030.
The manufacture of the marine combat systems will be carried out in the Kingdom
along with system engineering and design, hardware and software development and