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Aselsan and Taqnia to form defense electronics joint venture in Saudi Arabia 52602164.


| 2016
Defence & Security News - Aselsan and Taqnia
 
Aselsan and Taqnia to form defense electronics joint venture in Saudi Arabia
Aselsan, a Turkish Armed Forces Foundation company, and Taqnia Defense and Security Technologies, a subsidiary of Saudi Development and Investment Company have signed a joint venture agreement to form a defense electronics business in Saudi Arabia.
     
Aselsan, a Turkish Armed Forces Foundation company, and Taqnia Defense and Security Technologies, a subsidiary of Saudi Development and Investment Company have signed a joint venture agreement to form a defense electronics business in Saudi Arabia. The joint venture company will establish a facility for the design, development, manufacturing and sales of radar, electronic warfare and electro-optic technologies (Photo Aselsan)
     
The agreement between the two companies was signed earlier this week at the Saudi Armed Forces Exhibition in Riyadh.

The newly formed joint venture company will establish a facility for the design, development, manufacturing and sales of radar, electronic warfare and electro-optic technologies.

"Through this joint venture we are investing to establish a world-class facility which will lead to nurturing local talent and supporting economic growth and diversification in the kingdom," said Prince Turki Bin Saud Bin Mohammed Al-Saud, chairman of the board of directors for Taqnia. "This important defense partnership will have a positive impact on the kingdom's technological innovation capabilities."
 

 

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