Gulf Business - - NEWS AND VIEWS -

Spain and Saudi Ara­bia have signed a frame­work agree­ment to sell the Gulf state war­ships under a deal es­ti­mated to be worth around $2.2bn. Saudi Ara­bia’s Crown Prince and Spain’s De­fence Min­is­ter signed an “ex­ec­u­tive sum­mary to fa­cil­i­tate the nec­es­sary pro­ce­dures” for a con­tract with Span­ish state-owned ship­builder Na­van­tia for the sup­ply of five war­ships.

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