Riyadh – Mubasher: The Saudi Arabian Military Industries (SAMI) has announced the operation of its new joint venture (JV) with L3Harris Technologies, one of North America’s largest aerospace and defence manufacturers.

The step underlines SAMI’s commitment to building a strong indigenous defence industry ecosystem through global partnerships, according to a statement on Wednesday.  

SAMIL3Harris, the new JV, will facilitate the transfer of knowledge, technology, and production to Saudi Arabia as well as research and development programmes. SAMI, a wholly-owned subsidiary of the Public Investment Fund (PIF), will own 51% of the JV while L3Harris will own the remaining 49%.

L3Harris is a leading US company in advanced communication, sensor, and integrated mission solutions.