RIYADH, Dec 2 (NNN-SPA) – Saudi Arabia signed a memorandum of understanding (MoU), to acquire and build multi-mission combat ships for the kingdom’s navy.
The MoU was signed between the Saudi defence ministry, the Saudi General Authority for Military Industries, and Spain’s state-owned shipbuilding company, Navantia.
“The MoU aims to raise the level of readiness of the Royal Saudi Navy, to enhance maritime security in the region, protect vital and strategic interests of the kingdom, and support the strategic, operational and tactical goals of the defence ministry,” the ministry was quoted as saying.
According to the agreement, Navantia “would localise up to 100 percent of naval shipbuilding, integration of combat systems, and ship maintenance,” it added.
Meanwhile, Assistant Minister of Defence, Khalid Al-Bayari, confirmed that the MoU will help create a base for advanced marine industries in Saudi Arabia.
Saudi Arabia plans to localise more than 50 percent of its total military spending by 2030, under the kingdom’s Vision 2030 economic reform blueprint.– NNN-SPA
