The agreements signed will bring cutting-edge defense systems to support SAMI’s development and growth strategies
FARNBOROUGH, UK - 18 July 2022: SAMI, a wholly owned subsidiary of the Public Investment Fund (PIF) and Saudi Arabia's national champion of defense industries, has officially signed a number of major agreements with a leading Singaporean technology defense and engineering group ST Engineering, at this year’s edition of the Farnborough International Airshow held in the United Kingdom.
The agreements signed today will support SAMI in producing cutting-edge defense systems toward executing its development and growth strategies in various defense equipment and capabilities, as well as technical support and training. With these agreements being signed during the event, both SAMI and ST Engineering anticipate close collaboration to further fortify the Kingdom’s defense capabilities.
ST Engineering was selected by SAMI as an original equipment manufacturer partner based on its expertise and track record in both the production and supply chain of defense-related equipment. Aiming to capitalize upon the Singaporean group’s solid brand and reputation globally, the agreements represent SAMI’s continued commitment to partnerships that create a competitive advantage.
Commenting on the agreement, SAMI CEO Eng. Walid Abukhaled, said: “We are proud to undertake these new ventures with ST Engineering, which has consistently stood out as a global leader in the defense sector. With these new initiatives comes a bright opportunity to leverage supply chain capabilities and fortify our local position as the Kingdom drives towards defense sector autonomy in line with the objective of Vision 2030.”
Vincent Chong, Group President & CEO, ST Engineering, added: “We are extremely pleased to partner with SAMI in this collaboration to deliver high performance and robust defense solutions. This is in line with our international defense efforts in establishing strong local partnerships.”
SAMI’s collaboration with ST Engineering first commenced in 2019 where teams from both organizations worked in unison to develop a joint partnership. The partnership continues to focus on sustainable practices and adding value to defense capabilities within the Kingdom of Saudi Arabia.