Abu Dhabi’s Mubadala has signed a strategic collaboration agreement with the Saudi Arabian Military Industries Company (SAMI) to work together in the field of advanced manufacturing, the company announced on Saturday.
According to Mubadala, the collaboration “sets out the strategic framework" for co-investment and a long-term partnership in manufacturing, defence, maintenance repair and overhaul, research and development and engineering.
The collaboration will see Mubadala – which already has experience in the sector through Strata Manufacturing, Turbine Services & Solutions (TS&S) and Emirates Defence Industries Company (EDIC) – help SAMI accelerate its development plans and expand the GCC’s aerospace and defence manufacturing sector.
“This represents a historic moment for the global aerospace and defense industries in setting up an aligned aerospace and defense strategy between the UAE and KSA,” said Badr Al Olama, Mubadala’s director of Aerospace and Defence.
“Through our strategic collaboration, we have identified a number of areas for potential partnership in the manufacturing, R&D and MRO space that can utilise the deep experience of the UAE in growing international partnerships and establishing a regional ecosystem.”
Al Olama added that the partnership will allow Mubadala to “optimise our resources, investments, high-skilled local talent and overall competitiveness for our customers and partners by boosting global market access, integration and industrial excellence.”
SAMI CEO Dr Andreas Schwer said that the partnership will help support the Saudi governments efforts to localise at least 50 percent of the kingdom’s military spending in line with the objectives outlined in Saudi Vision 2030.
“The collaboration will enable SAMI to further support the growth of the both aerospace and defense ecosystems in the Kingdom through know-how and technology transfer between two leading industry players,” he added.For all the latest industry 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.
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