Naval Innovation: A Strategic Alliance Between International Maritime Industries and SAMI to Elevate Defense Procurement and Services

International Maritime Industries (IMI), the foremost shipyard in the MENA region, alongside SAMI, a completely-owned branch of the Public Investment Fund (PIF), have formalized a Memorandum of Understanding (MoU) to investigate partnerships in supplying defense vessels and services to the Royal Saudi Naval Forces as well as other naval forces in the vicinity. This collaboration intends to deliver an ‘in-Kingdom’ solution for the Ministry of Defense and Royal Saudi Naval Forces, which will encompass the fabrication of defense vessels, alongside the acquisition, setup, and integration of mission, combat, and weapon systems, in addition to various other prospective initiatives on the horizon.

As an initial measure, IMI and SAMI will initiate dialogues on the most effective way to position a forthcoming localized offer to the Saudi Armed Forces and Security Forces.

The MoU was executed in the presence of Mr. Ahmed Al Saadi, Chairman of IMI, by Dr. Abdullah Al Ahmari, President and CEO of IMI, and Eng. Walid Abukhaled, CEO of SAMI.

Dr. Abdullah Al Ahmari, President and CEO of IMI, stated: “We take pride in collaborating with an industry frontrunner such as SAMI, which is committed to advancing the local maritime sector and fulfilling the aspirations of Saudi Vision 2030. This agreement will enhance our extensive localization initiatives within the Kingdom and establish the groundwork for a Saudi ‘one-stop-shop’ where all operations will occur.”

Dr. Al Ahmari continued: “This significant milestone will also bolster our offerings across various sectors within defense, highlighting our dedication to fostering strategic alliances that will augment our operational capabilities. We eagerly anticipate supporting the Royal Saudi Naval Forces and neighboring navies with our superior maritime services and solutions.”

Walid Abukhaled, CEO of SAMI, remarked: “We are thrilled to collaborate with IMI. This partnership will undoubtedly advance the achievement of SAMI’s critical goals, broaden our operational reach, and fulfill our Saudi Vision 2030 ambition to localize over 50% of the Kingdom’s military expenditures. This strategic economic accord will fortify relations between the two entities and bolster our initiatives to cultivate national competencies and support the defense architecture of the Kingdom.”