Saudi Arabian Military Industries and Spain’s state-owned Navantia have started a joint venture to manufacture warships in the kingdom, the official Saudi Press Agency reported on Wednesday.
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 news service reported.
The two parties came to the agreement during Crown Prince Mohammed bin Salman’s visit to Spain in April, SPA said. It did not provide a value for the deal.
The agreement for the design and construction of the warships will start this autumn, with the last unit to be delivered by 2022, it was reported in July.
Follow us on
For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.