RIYADH - The General Authority for Competition announced its no-objection to two joint projects for the manufacture of aviation metal structures and metal castings products in the Kingdom of Saudi Arabia, bringing the total number of joint projects approved by the General Authority for Competition to 10 applications since the beginning of the year.

The authority indicated that it had issued a no-objection decision to establish a joint venture between the Saudi Arabian Company for Industrial Investments (Dusur), the Saudi Company for Military Industries (SAMI) and the French company Figeac Aéro in the field of manufacturing aircraft components, the first joint venture to build a facility in the Kingdom to manufacture aviation structures.

On the other hand, in the same context, the General Authority for Competition issued a no-objection decision to establish a joint venture between the Saudi Arabian Industrial Investments Company (Dusur), Saudi Aramco Development Company and Doosan Heavy Industries and Construction in the supply of castings and forgings.

Dussur Company will own 70%, Saudi Aramco Development Company 15% and Doosan Heavy Industries and Construction Company 15% of the capital of the joint venture.

The authority explained that it had carefully studied the two markets and found that these two projects do not result in any market dominance in terms of market shares for all parties, and that the joint projects will contribute to strengthening the local industry in accordance with the directions of the Kingdom's Vision 2030.