Agreement with Arabia
Navantia signed an agreement last April with the Saudi state company SAMI (Saudi Arabian Military Industries) to create a joint venture in Saudi Arabia. This venture will be the supplier and integrator of the combat systems for the future naval program contracts in Saudi Arabia, starting with the Avante 2200 contract.
The creation of this joint venture represents an exceptional opportunity to position the integrated systems and technologically advanced solutions of Navantia in the Arabian market and its area of influence, aligned with the company’s internationalization strategy.
The president of Navantia, Esteban García Vilasánchez, has shown his great satisfaction with the creation of this joint venture, as well as for the clear commitment expressed on April 12, 2018 in Madrid by Saudi Arabia with the contract with Navantia for the construction in Spain of 5 corvettes. “The agreement signed between the two governments illustrates this commitment and further encourages the early signing of this contract,” he said.
The Defence Ministers of both countries signed on April 12, 2018, an agreement to continue joint efforts in the defense sector to improve the capabilities of the Saudi armed forces. Both ministers expressed their intention to complete and facilitate the necessary procedures to sign the contract with Navantia for the construction of five corvettes.
The president of Navantia said that this contract, which is being negotiated since 2015, is strategic for the Company and consolidates its international position, especially in the Middle East region, with great opportunities for the future.
He stressed that the construction of the 5 corvettes will have a huge impact on the economy and employment, since it is estimated that during 5 years will be occupied annually about 6,000 direct and indirect workers, with more than 1,100 direct employees, more than 1,800 employees of the IIAA of Navantia and more than 3,000 indirect employees generated by other suppliers.