$15 Billion in Contracts Estimated at AFED 2018

$15 Billion in Contracts Estimated at AFED 2018

Monday, 5 March, 2018 - 13:15
A part of AFED 2018 exhibition. (SPA)
Riyadh - Nayef al-Rashid
The Armed Forces Exhibition for Diversity of Requirements and Capabilities (AFED 2018) registered around 57,600 manufacturing orders in Saudi Arabia, while the contracts amounted to more than $15 billion.

The exhibition, organized by the Saudi Ministry of Defense at its fourth session in Riyadh, was a platform for boosting local manufacturing. More than 120,000 visitors attended the event, which concluded on Sunday.

AFED 2018 focused on localization of local content by presenting 80,000 manufacturing opportunities to investors, with the participation of civil and military officials in Saudi Arabia and abroad.

About 68 international and 130 local companies participated in the exhibition, including research institutions at the King Abdulaziz City for Science and Technology and Prince Sultan Advanced Research Institute.

The exhibition witnessed the signing of an agreement on the localization of military technology.

CEO of Middle East Propulsion Company Ltd, Abdullah al-Omari said it was signed with General Electric and the Saudi Air Force for the assembly and maintenance of new F15-S and F15-SA aircraft, Apache engines, and the Black Hawk T700 for more than $330 million.

He revealed that this agreement will generate revenues worth $693 million in the upcoming five years.

In addition, KACST offered a package of military and security projects that have been relocated to Saudi Arabia, such as a laser-guided short-range rocket powered by a solid fuel engine, as well as a short-range ballistic missile with a solid fuel engine.

The King Abdulaziz City also presented Custodian of the Two Holy Mosques King Salman bin Abdulaziz’s initiative to desalinate water using solar energy in al-Khafji province to produce 60,000 cubic meters of desalinated water per day.

The Ministry of National Guard showcased at AFED four modern vehicles that were assembled locally at Ministry facilities. This led to the creation of 294 manufacturing opportunities and contributed to the support of local manufacturing and achieving Vision 2030.

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