SAMI to invest SAR 7 bln in partnerships, acquisitions: CEO

28/01/2021 Argaam

CEO Walid Abukhaled

Saudi Arabian Military Industries (SAMI) is planning to invest SAR 6-7 billion in strategic partnerships and projects, and certain acquisitions in line with its strategy in the coming period, CEO Walid Abukhaled told Asharq News.

 

SAMI has a clear strategy, as it does not enter into partnerships and projects only for profit. Its main goal is to share knowledge and transfer technology, Abukhaled said, adding that SAMI allocated a special budget for investment in research and development.

 

Moreover, the company is in talks with global partners to seize available opportunities, as part of its strategy for technology transfer. SAMI is dealing with the world’s biggest companies in defense systems and aviation across the US and Europe.

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