Saudi regulatory authorities announced their approval of joint ventures in the aviation structure manufacturing sector, which will seek to establish the first local industry for aviation structures in the Kingdom.
The General Authority for Competition announced its approval of two joint projects for the manufacture of aviation metal structures and metal castings products in Saudi Arabia, bringing the total number of joint projects approved by the Authority to 10 since the beginning of 2021.
The authority stated that it had issued a no-objection decision to establish a joint venture between the Saudi Arabian Industrial Investments Company (Dussur), the Saudi Arabian Military Industries (SAMI) and French FIGEAC Aero in the field of manufacturing of aircraft components, to become the first joint venture to build a facility in the Kingdom to manufacture aviation structures.
In the same context, the General Authority for Competition issued a no-objection decision to establish a joint venture between Dussur, Saudi Aramco Development Company and Doosan Heavy Industries and Construction to supply castings and forgings, where Dussur will own 70 percent, Saudi Aramco Development Company 15 percent, and Doosan Heavy Industries and Construction 15 percent of the project’s capital.
