Saudi Arabia signs $2.2 bln deal to buy warships from Spain

Saudi Arabia has signed a framework agreement with Spain to buy warships from Spanish state-owned shipbuilder, Navantia, the Saudi government said in a statement on Thursday.

The deal is estimated to be worth around 1.8 billion euros ($2.2 billion), according to Reuters.

Another deal between the Saudi Military Industries Company and Navantia was signed by Ahmed Al-Khatib, Chairman of Saudi Arabian Military Industries, and Esteban García Vilasánchez, President of Navantia.

The agreements came during Crown Prince Mohammed bin Salman’s visit to Spain, where he was accompanied by a high level delegation that includes several Saudi ministers and business officials.

“The Crown Prince was also present during the signing of an agreement on air transport by Dr. Majed Al-Qassabi, Saudi Arabia’s Minister of Commerce and Investment; and Íñigo de la Serna, Spain’s Minister of Transport,” the Saudi government statement said.

Saudi energy minister Khaled Al-Falih also signed a MoU on scientific and technical cooperation with Spain’s minister of economy Román Escolano.

Overall, the Kingdom and Spain signed six cooperation agreements in the areas of defense, air transport, technology, culture, and social development. The deals were signed on Thursday, after a meeting between Prince Mohammed and Spanish Prime Minister Mariano Rajoy in the Spanish capital of Madrid.