Defense Ministry signs 10 deals worth SR 7 Billion at World Defense Show 2022
The Saudi Ministry of Defense (MoD) announced the closing of 10 deals worth more than SR 7 billion with local and international companies to support the armed forces’ capabilities and raise combat effectiveness. The announcement came as part of the Ministry’s participation in the World Defense Show (WDS) 2022 in Riyadh.
The MoD signed a contract worth SR 3 billion with Hanwha, a Korean defense company, to support the Riyal Saudi Land Forces (RSLF) with its defense capabilities and support localization and supply chain services. Dr. Khaled Al-Biyari, Assistant Defense Minister for Executive Affairs, and retired Lt. Gen. Yung Kwan, President of Defense Sector in Hanwha, signed the contract.
In addition, the MoD signed contracts worth SR 1.7 billion with Alsalam Aerospace Industries to provide maintenance services to the Royal Saudi Air Force (RSAF). Dr. Al-Biyari and Alsalam Aerospace Industries CEO Abdul Mohsen Junaid signed the agreement. NAVAL Arabian Group entered into a contract with the Ministry for vessel technical support services worth SR 800 million. Dr. Khaled Al-Biyari, Assistant Defense Minister for Executive Affairs, and NAVAL CEO Didier Fouilly signed the agreement.
In addition, the MoD signed a SR 400 million deal with GDC Middle East to provide technical support for the C130 aircraft for the Royal Saudi Air Forces (RSAF). The contract was signed by Deputy Defense Minister for Procurement and Armament Ibrahim bin Ahmed Al Suwayed and GDC Middle East CEO Eng. Muneer Bakhsh.
Moreover, a deal worth more than SR 430 million was signed with Norinco, a Chinese company, to obtain various types of ammunition for the General Directorate of Arms and Ammunitions. The agreement was signed by Al Suwayed and Norinco Vice President Sho Hong Yo.
Another SR 460 million contract was signed with Poongsan Corporation for the General Directorate of Arms and Ammunition to procure various types of ammunition. The deal was signed by Al Suwayed and Poongsan Corp. Managing Director Geun-Woo Park.
Also, the Saudi MoD signed a SR 250 million contract with LIG NiX1, a Korean defense company, for Royal Saudi Naval Forces (RSNF) to receive electro-optical defense systems. The contract was signed by Deputy Minister for Procurement and Armament Ibrahim Al Suwayed and LIG NIX1 Head of International Business Seon Hu Lee in the presence of company Chairman Mr. Sang Ku.
According to Dr. Khaled Al-Biyari, Assistant Defense Minister for Executive Affairs, Saudi Arabia, the contracts reflect the directives of HRH Crown Prince, Deputy Prime Minister and Minister of Defense Prince Mohammed bin Salman and Vice-Minister Prince Khalid bin Salman to improve the readiness of forces, sustain defense systems and localize military manufacturing.
As a result of these contracts, the Kingdom is committed to supporting and improving the capabilities of its armed forces, developing their capabilities, improving their efficiency, and improving their readiness, focusing on localizing the military industries, whether in their manufacture or their support.