Saudi inks naval deal with French firm
ABU DHABI: Saudi Arabia’s state arms producer and a French government-majority firm signed an agreement yesterday on a joint venture to boost the kingdom’s navy. The memorandum of understanding between Saudi Arabian Military Industries (SAMI) and France’s Naval Group is aimed at providing the Gulf state’s navy with “state-of-the-art systems”, a statement said. “Through design, construction, and maintenance activities, the joint venture will contribute significantly to further enhancing the capabilities and readiness of our Royal Saudi Naval Forces,” SAMI boss Andreas Schwer said.