Saudi Ministry of Defense inks 10 contracts worth over SAR 7 bln with local, international firms

The signing ceremony

The Ministry of Defense signed today, March 8, a total of 10 contracts with local and international companies at a total value of more than SAR 7 billion.

The contracts were signed during the third day of the International Defense Exhibition & Conference (IDEX), organized by the General Authority for Military Industries (GAMI) from March 6-9, in Riyadh.

The ministry signed a contract worth more than SAR 800 million with Naval Group Arabia to provide technical and logistical support services for the vessels of the Navy.

It also concluded an agreement worth more than SAR 3 billion with Korea’s Hanwha Corp, to build defense capabilities that include localization and supply chains for the land forces.

Meanwhile, three contracts worth over SAR 1.7 billion were signed with Alsalam Aerospace Industries Co., and an agreement was concluded with GDC Middle East for over SAR 400 million.

The ministry also inked a contract with China’s NORINCO Group for SAR 430 million and two contracts worth nearly SAR 460 million with Korea’s Bongsan Corp.

In addition, it signed an agreement worth more than SAR 250 million with Korea’s LEG Nexeon.