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Saudi arms producer in defense venture with Lockheed Martin

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/reuters/02/22/trade.jpg"/><figcaption>Trade visitors are seen walking over a road crossing covered with Lockheed Martin branding at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. Toby Melville, <em>Reuters/File Photo</em></figcaption></figure></div><p>RIYADH - Saudi Arabia&#x27;s state arms producer signed an agreement Sunday with US contractor Lockheed Martin to form a joint venture, a statement said, as Washington reviews weapons sales to the kingdom.</p><p>The deal was announced by Saudi Arabian Military Industries (SAMI), which said it will own 51 percent of the venture, as it seeks to boost the kingdom&#x27;s military capabilities.</p><p>&quot;The joint venture is aimed at developing localization capabilities through the transfer of technology and knowledge and training of Saudi nationals to manufacture products and provide services to the kingdom&#x27;s armed forces,&quot; SAMI said in a statement.</p><p>Saudi Arabia has long been a major global arms importer.</p><p>But some Western countries now refuse to sell weapons to the kingdom over its role in the conflict in neighboring Yemen, gripped by what the United Nations calls the world&#x27;s worst humanitarian crisis.</p><p>Earlier this month, US President Joe Biden&#x27;s administration announced it was ending support for Saudi Arabia&#x27;s offensive operations in Yemen&#x27;s devastating war.</p><p>Biden&#x27;s administration also said it was reviewing weapons sales to the kingdom.</p><p>But Lockheed Martin&#x27;s vice president Timothy Cahill said Sunday&#x27;s deal marked a &quot;major milestone&quot; for the US company.</p><p>&quot;This agreement is in line with Lockheed Martin&#x27;s strategy to expand its partnership with the kingdom by providing reliable defense and security solutions,&quot; Cahill was quoted as saying in the statement. </p><p>In 2017, Saudi Arabia&#x27;s Public Investment Fund set up SAMI to manufacture arms locally, with the fund expecting it to become one of the world&#x27;s top defense companies by 2030.</p><p>Lockheed Martin is among the contractors involved in a project to install a $15 billion Terminal High Altitude Area Defense (THAAD) missile defense system in Saudi Arabia, which was part of a major arms deal approved by former US president Donald Trump in 2017.</p><p>Saudi Arabia seeks to boost its defense capabilities as it confronts missile or drone attacks from Yemen&#x27;s Iran-backed Huthi rebels since it launched a military intervention against them in 2015.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/overseas/02/17/21/israel-moves-to-buy-f-35-jets-kc-46-refueling-planes-munitions-official">Israel moves to buy F-35 jets, KC-46 refueling planes, munitions -official</a></li>	<li><a href="https://news.abs-cbn.com/overseas/12/06/20/bezos-says-blue-origin-will-take-the-first-woman-to-moons-surface">Bezos says Blue Origin will take the first woman to moon&#x27;s surface</a></li></ul><div><strong>FROM THE ARCHIVES: </strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/smYVQFgD9qM?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Saudi Arabia's state arms producer signed an agreement Sunday with US contractor Lockheed Martin to form a joint venture, a statement said, as Washington reviews weapons sales to the kingdom.</p>

Saudi Arabia's state arms producer signed an agreement Sunday with US contractor Lockheed Martin to form a joint venture, a statement said, as Washington reviews weapons sales to the kingdom.