BREAKING NEWS

Saudi Arabia to sign memorandum with Boeing to support fleet

By REUTERS

MARCH 27, 2018 20:51

NEW YORK - Saudi Arabia will sign a memorandum of understanding (MoU) with US planemaker Boeing Co to provide support and training to the kingdom's fleet on an upcoming visit to Seattle, the chairman of the state-owned military industrial company said on Tuesday.

Part of an effort to localize 50 percent of its military industry by 2030, Ahmed Al Khateeb of Saudi Arabian Military Industries (SAMI) said Saudi Arabia is talking with major US companies about their presence in the kingdom.

"We have been in dialog with them to expand their business in Saudi Arabia. We will sign an MoU with Boeing in our visit to Seattle," Khateeb told Reuters on the sidelines of the 2018 Saudi US-CEO Forum in New York.

"Hopefully we will be announcing other MoUs with other big American companies," said Khateeb, who is also chairman of the General Entertainment Authority.

Saudi Arabia's crown prince is leading a whistle-stop visit to the United States and on Friday is scheduled to travel to the US West Coast.

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