Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), has signed a number of major agreements with a leading Singaporean technology defense and engineering group ST Engineering in order to strengthen the Kingdom’s defense capabilities.
The agreements will support SAMI in producing cutting-edge defense systems toward executing its development and growth strategies in various defense equipment and capabilities, as well as technical support and training.
ST Engineering was selected by SAMI as an original equipment manufacturer partner based on its expertise and track record in both the production and supply chain of defense-related equipment.
According to the statement, “Aiming to capitalize upon the Singaporean group’s solid brand and reputation globally, the agreements represent SAMI’s continued commitment to partnerships that create a competitive advantage.”
“We are proud to undertake these new ventures with ST Engineering, which has consistently stood out as a global leader in the defense sector. With these new initiatives comes a bright opportunity to leverage supply chain capabilities and fortify our local position as the Kingdom drives towards defense sector autonomy in line with the objective of Vision 2030.”
Mr. Vincent Chong, Group President & CEO, ST Engineering, said that, “We are extremely pleased to partner with SAMI in this collaboration to deliver high performance and robust defense solutions. This is in line with our international defense efforts in establishing strong local partnerships.”
SAMI’s collaboration with ST Engineering first commenced in 2019, where teams from both organizations worked together to develop a joint partnership. The partnership continues to focus on sustainable practices and adding value to defense capabilities within the Kingdom of Saudi Arabia.
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