RIYADH - The General Authority for Military Industries announced today the signing of an agreement to localize and develop capabilities between the Middle East Aircraft Engines Company Ltd. and the American company Honeywell, with the aim of localizing the repair, maintenance and overhaul capabilities of (AGT1500) engines. The signing of the agreement witnessed the presence of the Deputy Governor of the General Authority for Military Industries for the Military Industries Sector, Eng. Qassim bin Abdul-Ghani Al-Maimani, the CEO of the Middle East Company, Eng. Abdullah bin Ali Al-Omari, and the representative of Saudi Honeywell, Yazid Al-Qahtani.

Al-Maimani stressed that the agreement signed between the two companies aims to localize and transfer the capabilities of repair, maintenance and overhaul of the AGT1500 engines, which will contribute to raising the readiness of the system, increasing the response of field service and technical support, and creating highly skilled job opportunities for Saudi competencies, by taking advantage of and developing local capabilities.

Al-Maimani indicated that the agreement will contribute to creating many job opportunities in the areas of repair, maintenance and overhaul for these engines, and it is expected that the transfer and localization of repair, maintenance and overhaul capabilities of this engine will be completed by the end of 2023, noting that the agreement comes within the framework of stimulating the localization of military industries in the Kingdom. And supporting its strategy aimed at localizing the sector with more than 50% of government spending on military equipment and services by 2030 to build a sustainable local military industries sector.

For his part, the CEO of the Middle East Company explained that the cooperation and partnership with the manufacturing company (Honeywell) is the first of cooperation with the international company, and a number of future projects will follow, God willing, explaining that this agreement aims to build partnership and integration relations between the two parties in order to achieve the strategic goals related to strengthening Exploiting the capabilities related to the military industries sector in the Kingdom, and the continuous cooperation and coordination between the two companies in all matters of common interest, stressing that the Middle East Aircraft Engines Company - for the first time - is working to expand its services to include all military engines in several systems such as aircraft and tanks. As well as ships.

He pointed out that the company is proud of the confidence of its customers in the military sectors and manufacturing companies, as its business is growing rapidly in line with the aspirations of the wise leadership to localize military technologies in the Kingdom in order to achieve the blessed vision.

For his part, James Chan, Senior Director of Defense and Space at Honeywell Aerospace, indicated that this agreement will contribute to enhancing local capabilities in developing AGT1500 engines, stressing that the military industries sector in the Kingdom is an attractive and important sector, which reinforces the company's commitment to participate in achieving the goals of the Kingdom's vision. 2030 and supporting the localization process in the sector. It is noteworthy that the General Authority for Military Industries is working with all its local and international partners to promote the process of localization in the sector by achieving the goals of the Kingdom’s vision to localize more than 50% of military spending by 2030, which will enable it to achieve the national priorities of strengthening The Kingdom’s strategic independence and contribution to raising its military readiness, in addition to enhancing joint operation between all security and military authorities, developing a sustainable local military industries sector, as well as raising transparency and spending efficiency.