Nichols Martin
State-owned defense company Saudi Arabian Military Industries plans to sign a memorandum of understanding with Boeing for fleet training and support services, Reuters reported Wednesday.
The non-binding agreement will come as Saudi Arabia aims to localize half of the country’s military sector by 2030.
SAMI Ahmed Al Khateeb told Reuters at the 2018 Saudi-U.S. CEO Forum the company hopes to sign MoUs with other U.S. companies.
Multiple companies from both countries entered into cooperative agreements worth more than $20 billion combined, the report noted.
