RIYADH, Saudi Arabia: The Saudi Defence Company SCOPA Industries and Airbus have signed an agreement to jointly produce civil and military helicopters in the Kingdom of Saudi Arabia.
The deal was announced on the sidelines of the Saudi-French Investment Forum being held in Paris on Monday.
The Chief Executive Officer (CEO) of SCOPA Fawaz Alakeel told that the Company expects to manufacture more than 100 helicopters and create 8,500 jobs in Saudi Arabia.
Fawaz Alakeel said that SCOPA expects investments worth more than 25 billion Saudi Riyals (US$ 6.67 billion) over next 20 years.
The CEO SCOPA said that the first helicopters produced at joint SCOPA and Airbus factories in Saudi Arabia would be seen with 24 months of next February’s World Defense Show, where he said the “foundation stone” for the project would be laid.
The event is scheduled to be held in Riyadh amid the Kingdom’s push to localize 50 percent of its military spending by 2030.
