Money & BusinessSaudi Arabia
Saudi Military Industries, Boeing join hands to strengthen aviation sector
SAMI group, a wholly-owned subsidiary of the Public Investment Fund and the Kingdom’s national defence localization champion, has announced a preliminary agreement with the Boeing Company, the world’s largest aerospace company and leading manufacturer of commercial jetliners, defence, space and security systems, and provider of aviation services to both the commercial and defence sectors.
Under the terms of the agreement, both companies will enter into a Kingdom-focused joint venture.
Under the agreement, the parties will work together through a limited liability company to provide maintenance, repair and overhaul and sustainment services for military rotary platforms currently operated in the Kingdom.