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Turkish defense firm to partner with Saudi Arabia in USD120M technology transfer venture
(MENAFN) Turkish defense industry firm Ramsa Defence is set to embark on a significant technology investment venture worth USD120 million in Saudi Arabia, as reported by information obtained by a Turkish news agency on Friday.
In a notable expansion of Turkish companies' business engagements in the Gulf region, Ramsa Defence unveiled its investment plans in Saudi Arabia during the World Defense Show exhibition held in Riyadh, the Saudi capital.
As a subsidiary of the Turali Group headquartered in Ankara, Turkey, Ramsa Defence formalized an agreement with the Saudi Arms Company for Military Industries (ACMI) aimed at facilitating the technology transfer of approximately 20 products from its portfolio within an eight-month timeframe.
Under the terms of the agreement, deliveries of the designated products are scheduled to commence at the conclusion of roughly eighteen months. Among the array of products included in the deal are unmanned aerial vehicles (UAVs), unmanned ground vehicles, the Eskelot Weapon Transport System, kamikaze drones, the Hakan hybrid guard security tower, grenade launcher drones, aircraft test benches, and ultrasonic weapon cleaning systems.
Through this strategic technology transfer initiative, Ramsa Defence endeavors to solidify its presence and emerge as a significant contributor to the Saudi market's defense sector. This partnership underscores Ramsa Defence's commitment to fostering innovation and advancing capabilities within the realm of defense technology, while also reinforcing the burgeoning business relations between Turkey and Saudi Arabia.
In a notable expansion of Turkish companies' business engagements in the Gulf region, Ramsa Defence unveiled its investment plans in Saudi Arabia during the World Defense Show exhibition held in Riyadh, the Saudi capital.
As a subsidiary of the Turali Group headquartered in Ankara, Turkey, Ramsa Defence formalized an agreement with the Saudi Arms Company for Military Industries (ACMI) aimed at facilitating the technology transfer of approximately 20 products from its portfolio within an eight-month timeframe.
Under the terms of the agreement, deliveries of the designated products are scheduled to commence at the conclusion of roughly eighteen months. Among the array of products included in the deal are unmanned aerial vehicles (UAVs), unmanned ground vehicles, the Eskelot Weapon Transport System, kamikaze drones, the Hakan hybrid guard security tower, grenade launcher drones, aircraft test benches, and ultrasonic weapon cleaning systems.
Through this strategic technology transfer initiative, Ramsa Defence endeavors to solidify its presence and emerge as a significant contributor to the Saudi market's defense sector. This partnership underscores Ramsa Defence's commitment to fostering innovation and advancing capabilities within the realm of defense technology, while also reinforcing the burgeoning business relations between Turkey and Saudi Arabia.
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