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Saudi Arabia signs 23 defense contracts worth $3.4 billion

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Saudi Arabia’s defense ministry signed 23 contracts worth 13 billion Saudi riyals ($3.4 billion) with local and international companies during the fourth day of the World Defense Show, state news agency (SPA) reported on Wednesday.

Five contracts worth 6 billion Saudi riyals ($1.6 billion) were signed with the Saudi Arabian Military Industries (SAMI) to purchase military vehicles, ammunition and communication systems.

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According to the report, the ministry signed two contracts with Raytheon Company, an American defense conglomerate, worth 2 billion Saudi riyals ($533 million) to strengthen the capabilities of the Kingdom’s air force.

The ministry also signed two contracts worth 1.5 billion Saudi riyals ($400 million) with Thales Group, a French company that provides services for the defense and security markets.

On Wednesday, the ministry signed 10 defense contracts worth $1.8 billion with various local and international companies.

Saudi Arabia’s first World Defense Show opened to the public on Sunday. It features nearly 600 exhibitors from over 40 countries, and organizers predict that 30,000 people will attend.

The exhibition, which concluded on Wednesday, was organized by the Kingdom’s General Authority for Military Industries (GAMI).

Read more:

World Defense Show: GCC defense sector thrives on partnerships, localization

World Defense Show: Saudi Arabia, Lockheed to localize missile parts manufacturing

Saudi Crown Prince visits first day of World Defense Show in Riyadh

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