20 June 2023; MEMO: The CEO of the Saudi SCOPA defence company, Fawaz Al-Aqeel, yesterday announced the signing of an agreement with the French Airbus company to manufacture civilian and military helicopters in the kingdom.
Al-Aqeel said the project will provide more than 8,500 jobs, adding that the company expects investments worth more than 25 billion riyals ($6.67 billion) over 20 years, Saudi state TV Al-Ekhbariya reported.
He described the agreement as the largest of its kind and the first in Middle East history, adding that more than 100 helicopters will be manufactured in Saudi Arabia.
The project will start next February at the World Defence Show in Riyadh, while the new aircraft will be completed 24 months later.
SCOPA is one of the most prominent defence companies in Saudi Arabia, and is wholly owned by the Ajlan & Brothers Holding Group.
Under Saudi Arabia's Vision 2030, the kingdom wants to localise 50 per cent of military industries and government defence spending, and has established the General Authority for Military Industries to achieve these goals.
