Arab News, Wednesday, Sep 1, 2021 | Muharram 24, 1443
US Honeywell to help Saudi MEPC localize repair of military equipment, GAMI says
Saudi Arabia:
Saudi Arabia’s General
Authority of Military Industries (GAMI) on Tuesday said the Middle East
Propulsion Co. and Honeywell signed a deal to localize the repair and overhaul
of a turbine engine used in battle tanks.
The agreement between the US-based company
Honeywell and MEPC, a Saudi national company, is part of the authority’s efforts
to localize more than 50 percent of the Kingdom’s military spending by 2030.
Under the deal, the technology transfer is likely
to be completed by the end of 2022. It will help GAMI acquire capabilities to
work on AGT1500 engines, improve operational readiness, as well as creating
high-skilled jobs for Saudis.
“The signing of this agreement will contribute to
the localization of the sector in the Kingdom and will accelerate business
continuity, transfer of technology and knowledge, utilization and development of
existing capabilities and support for local content,” GAMI’s Deputy Gov. Gasem
Abdulghani Al-Maimani said.
“The repair and overhaul agreement with MEPC for
the AGT1500 engines will help strengthen local capabilities in developing and
maintaining the engines,” Honeywell Senior Director James Schaan said.
The Kingdom’s National Military Industries Sector
Strategy aims to raise strategic independence and readiness in defense and
security, enhance cooperation between military and security entities, increase
transparency, and ensure spending efficiency.