Saudi Arabia inks JV with Spain’s Navantia to build warships

08/11/2018 Argaam

 

The Saudi Arabian Military Industries Company (SAMI) and Spain’s Navantia have signed an agreement to form a joint venture (JV) for manufacturing warships in the Kingdom, Saudi Press Agency reported on Wednesday.

 

The JV, named SAMI Navantia Naval Industries, will design and build five combat frigates of the "Avanti 2200" variety, equipped with a combat management system, for the Saudi Ministry of Defence, the report said.

 

The deal with the Spanish state-owned shipbuilding company is part the Kingdom’s strategy to localize half of its military spending by 2030.

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