National investment Fund of Saudi Arabia announced the creation of the state concern for the production of weapons.
New defense group SAMI needs to create a Kingdom of thousands of new jobs and reduce dependence of the country, one of the largest importers of weapons in the world, from foreign manufacturers.
The Corporation will consist of four departments: air systems, land systems, weapons and ammunition and military electronics.
It is also planned that SAMI will be engaged in repair of aircraft and the manufacture and repair of UAVs.
According to forecasts, the Corporation will create 40 thousand jobs directly and another 30 thousand indirect jobs.