Breaking news
Aselsan and Taqnia to form defense electronics joint venture in Saudi Arabia 52602164.
| 2016
|
|
|||
|
Defence & Security News - Aselsan and Taqnia
|
|||
|
|
|||
| Aselsan and Taqnia to form defense electronics joint venture in Saudi Arabia | |||
|
Aselsan, a Turkish Armed Forces Foundation company, and Taqnia Defense and Security Technologies, a subsidiary of Saudi Development and Investment Company have signed a joint venture agreement to form a defense electronics business in Saudi Arabia.
|
|||
|
|
|||
 The joint venture company will establish a facility for the design, development, manufacturing and sales of radar, electronic warfare and electro-optic technologies (Photo Aselsan) |
|||
|
|
|||
|
The agreement between the two companies was signed earlier this week at the Saudi Armed Forces Exhibition in Riyadh.
The newly formed joint venture company will establish a facility for the design, development, manufacturing and sales of radar, electronic warfare and electro-optic technologies. "Through this joint venture we are investing to establish a world-class facility which will lead to nurturing local talent and supporting economic growth and diversification in the kingdom," said Prince Turki Bin Saud Bin Mohammed Al-Saud, chairman of the board of directors for Taqnia. "This important defense partnership will have a positive impact on the kingdom's technological innovation capabilities." |
|||