Riyadh and US company agree to build Todd system components in Saudi Arabia.
The official Saudi news agency (WAS), the General Directorate of Military Industries, announced the approval of two localization projects for the construction of interceptor missile launchers and the construction of missile containers in cooperation with Lockheed Martin, which is one of the localization projects of the Todd air defense system.
According to the report, these projects are in line with the strategy of the General Directorate of Military Industries of Saudi Arabia to strengthen cooperation with its international partners from around the world with the aim of helping to support the process of localization of the Saudi military industry.
Saudi officials also announced the signing of 22 industrial partnership agreements with a number of domestic and international companies specializing in the military and defense industries.
The total value of the industrial partnership was about 8 billion Saudi riyals ($ 2.1 billion), the report added.
Earlier, Walid Abu Khalid, CEO of the Saudi Military Industries Company, said: “By 2030, more than 50% of the military industry will be indigenous.”
The chief executive of the Saudi Military Industries Company also said that the company had worked with local companies to design a 100% indigenous drone to be produced and used by the Saudi armed forces.
The first World Defense Exhibition 2022 was inaugurated on Sunday in Riyadh with the participation of military and national officials, military departments and scientific circles of this country.
The Saudis have previously announced that they have begun construction on a large military-industrial complex, which is set to be transformed in the run-up to 2030 and will bring about a fundamental change in the Saudi defense and military industries.
The Saudi government investment fund has announced that the company is set to become one of the top 25 companies in the world in the field of military industry by the end of the Vision 2030 program, making Saudi Arabia a world leader in the production of military parts and equipment.
