On the sidelines of the Armed Forces Exhibition to Support the Localization of the Spare Parts Industry (“AFED”), which kicked off yesterday, Sunday, at the Riyadh International Convention and Exhibition Center, a number of subsidiaries of the Saudi Technology Development and Investment Company (“Taqnia”) signed signed five agreements with international companies, with the aim of establishing Saudi-foreign joint ventures specializing in the transfer and localization of advanced technologies and industries in the fields of military aircraft, satellites, radars, and clean energy.

The first agreement involved the establishment of a Saudi company through a partnership between Taqnia Aviation and the U.S.-based Sikorsky, with the goal of developing, manufacturing, and producing the Black Hawk multi-purpose helicopter, as well as training and qualifying Saudi personnel.

Under the second agreement, a contract was signed to establish a Saudi company in partnership between Taqnia Aviation and the Ukrainian firm Antonov, with the aim of developing, manufacturing, and producing medium- and heavy-lift multipurpose transport aircraft in the Kingdom and marketing them globally, and to meet the Kingdom’s needs for such aircraft.

The third agreement established a Saudi company in partnership between Taqnia Aerospace and the U.S.-based DigitalGlobe, with the goal of manufacturing and marketing a range of small satellites dedicated to reconnaissance through satellite imagery.

The fourth agreement involved the establishment of a Saudi company in partnership between Taqnia Defense and Security and the Turkish company Aselsan, with the goal of developing, manufacturing, and marketing electronic warfare equipment and systems, radars, and electro-optical systems in the Kingdom.

The fifth agreement involved the establishment of a Saudi company in partnership between Taqnia Energy and the U.S.-based company Sora, with the aim of manufacturing and marketing LED streetlights.