PARIS — Saudi Arabia has a signed an agreement with a French aerospace company to construct a facility in the Kingdom for manufacturing aircraft components, the Saudi Press Agency reported late Friday. The Saudi Arabian Military Industries Company (SAMI) said it signed a memorandum of understanding (MoU) with the French multinational Figeac Aero, which is a major partner of global aerospace companies and specializes in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. Figeac Aero famous for its know-how in the area of machining and assembly. The MoU was signed at the Paris Air Show, the biggest international event of its kind in the world specializing in the aerospace field. It is held in Le Bourget Airport in Paris. The SAMI delegation concluded its participation in the Paris Air Show on Friday. According to the MoU, a joint venture will be established between SAMI and Figeac Aero to construct a facility in Saudi Arabia for manufacturing aircraft structural components. SAMI will own the majority stakes in the new entity, which will carry out the contracts for manufacturing the metal components for commercial and military aircraft. The project is scheduled to continue for a period of 30 months. SAMI CEO Dr. Andreas Schwer said: "We are happy to cooperate with a company having an international reputation like Figeac Aéro. We are looking forward to working closely with them in future. This project forms the basic pillar for aircraft manufacturing industries. It will enhance our local capabilities, in line with the goals of the Kingdom's Vision 2030." He added: "By building solid foundations for original manufacturing, we will be able to achieve significant savings in costs and guarantee a more secure future for the Kingdom and its people, simultaneously." Chairman of the Board of Directors and CEO of Figeac Aéro Jean-Claude Maillard said: "After a four-year study and research with many probable partners on the Saudi system, we reached a conclusion that our partnership in the future joint venture with SAMI will enable the Kingdom of Saudi Arabia to develop its manufacturing capabilities and build its own aviation industry, in addition to the supply chain related to it. We are very enthusiastic about this new industrial project and we, in Figeac Aero, will work hard to make it a success." The new facility, which will be based in Riyadh or Jeddah, will be managed and operated by highly trained and qualified Saudi engineers and technicians. The functions of the manufacturing facility will include computerized operation, like manufacturing sheet metal parts, surface treatment operations, assembly operations and finally delivering the goods in their final form to the clients. This facility will benefit from the qualifications and experience of Saudi cadres to make available spare parts, including commercial aircraft wing components made of titanium. The program will support other SAMI-owned joint ventures with the aim of maximizing localization of military industries, in line with the goals of the Kingdom's Vision 2030.
