International Maritime Industries (IMI), the largest shipyard in the MENA region, has signed a Memorandum of Understanding (MoU) with Saudi Arabian Military Industries (SAMI) to explore collaborations in the provision of defense vessels and services to the Royal Saudi Naval Forces and other navies in the region.
According to the statement, the alliance intends to offer an ‘in-Kingdom’ solution to the Ministry of Defense and Royal Saudi Naval Forces, which will include the construction of defense vessels, as well as the procurement, installation, and integration of mission, combat, and weapons systems, with other potential projects in the pipeline.
As an initial step, IMI and SAMI will engage in discussions on how best to position a future localized offering to the Saudi Armed Forces and Security Forces.
Walid Abukhaled CEO – SAMI
“We are pleased to cooperate with IMI. This partnership will undoubtedly contribute to the achievement of SAMI’s key objectives, the expansion of our operational scope, and the realization of our Saudi Vision 2030 goal to localize over 50 percent of the Kingdom’s military spending. This strategic economic agreement will strengthen relations between the two parties and support our efforts to build national capabilities and support the Kingdom’s defense system.”
Dr. Abdullah Al Ahmari, President and CEO of IMI said that, “We are proud to partner with an industry leader like SAMI, which is dedicated to supporting the development of the local maritime industry and the fulfillment of Saudi Vision 2030. The agreement will contribute to our broader localization efforts within the Kingdom and lay the foundation for the establishment of a Saudi ‘one-stop-shop’ where all activities will take place.”
“This important milestone will also enhance our offerings in a range of areas within the defense sector, reflecting our focus on developing strategic partnerships that will help expand our business capabilities. We look forward to supporting the Royal Saudi Naval Forces and other regional navies with our advanced maritime services and offerings,” Dr. Al Ahmari added.
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