PARIS: Saudi Arabian Military Industries (SAMI) announced on Friday that it has concluded a deal with Figeac Aero, a French company specializing in the manufacture of components used in the construction of aircraft. The agreement, for a joint venture to build an airframe-manufacturing facility in Saudi Arabia, was signed at the Paris Air Show at Le Bourget Airport, the world’s largest aviation and aerospace event. SAMI will own the majority of the shares in the new entity, which will manufacture metal components for military and commercial aircraft. The joint project is set to last for two-and-a-half years. “We are delighted to partner with a world-class company such as Figeac Aéro, and look forward to working closely with them in the future,” said SAMI CEO Andreas Scheuer. “This project is the foundation of aircraft-manufacturing industries and will enhance our local capabilities in line with the objectives set out in the Saudi Vision 2030 reform plan. By building solid foundations for original manufacturing, we will be able to achieve significant cost savings and ensure a safer future for the Kingdom and its people.”HIGHLIGHTS • The new facility, which will be located in Riyadh or Jeddah, will be managed and operated by highly trained Saudi engineers and technicians. • The work will include operations such as sheet metal work, surface treatment and sub-assembling. • The facility will benefit from licenses to provide spare parts, including titanium wing parts, for commercial aircraft. Jean-Claude Mayar, the chairman and CEO of Figeac Aéro, said: “After a four-year study with several potential partners around the Saudi system, we concluded that our partnership in the future joint venture with SAMI will enable Saudi Arabia to develop their manufacturing capabilities and build their own aviation industry along with their associated supply chain. We are very excited about this new industrial project and we at Figeac Aéro will strive to make it successful.” The new facility, which will be located in Riyadh or Jeddah, will be managed and operated by highly trained Saudi engineers and technicians. The work will include operations such as sheet metal work, surface treatment and sub-assembling. The facility will benefit from licenses to provide spare parts, including titanium wing parts,for commercial aircraft.