RIYADH: Ƶ’s General Authority of Military Industries (GAMI) on Tuesday said the Middle East Propulsion Co. and Honeywell signed a deal to localize the repair and overhaul of a turbine engine used in battle tanks.
The agreement between the US-based company Honeywell and MEPC, a Saudi national company, is part of the authority’s efforts to localize more than 50 percent of the Kingdom’s military spending by 2030.
Under the deal, the technology transfer is likely to be completed by the end of 2022. It will help GAMI acquire capabilities to work on AGT1500 engines, improve operational readiness, as well as creating high-skilled jobs for Saudis.
“The signing of this agreement will contribute to the localization of the sector in the Kingdom and will accelerate business continuity, transfer of technology and knowledge, utilization and development of existing capabilities and support for local content,” GAMI’s Deputy Gov. Gasem Abdulghani Al-Maimani said.
“The repair and overhaul agreement with MEPC for the AGT1500 engines will help strengthen local capabilities in developing and maintaining the engines,” Honeywell Senior Director James Schaan said.
The Kingdom’s National Military Industries Sector Strategy aims to raise strategic independence and readiness in defense and security, enhance cooperation between military and security entities, increase transparency, and ensure spending efficiency.
