By Anadolu Agency
February 16, 2024 3:19 pmANKARA
Turkish defense industry firm Ramsa Defence will be a partner in a $120 million technology investment in Saudi Arabia, according to information Anadolu obtained on Friday.
In the latest addition to Turkish companies’ business relations in the Gulf, Ramsa Defence provided details on its investment plans in Saudi Arabia at the World Defense Show exhibition, held in the Saudi capital Riyadh.
The Turali Group subsidiary, based in the Turkish capital Ankara, inked an agreement with the Saudi Arms Company for Military Industries (ACMI) to complete the technology transfer of about 20 products in its portfolio within eight months.
According to the deal, deliveries of the products will begin at the end of roughly a year and a half.
The products include 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.
Ramsa Defense aims to become a major player in the Saudi market with this technology transfer.
$120 million investment in 1st phase
The Ramsa Defence-ACMI partnership will involve two stages of investment in Saudi Arabia.
A factory will be built in the initial phase and be put into service in 2025 in the city of Jeddah on an area of 50,000 square meters (about 12.4 acres) with an investment of $70 million. This facility will prodcue UAVs, unmanned combat aerial vehicles (UCAVs), unmanned ground vehicles, and minicopters.
In the second phase, another factory with the same area will be set up in the capital Riyadh with another $50 million, making Ramsa’s total investment in Saudi Arabia $120 million.
Turkish defense industry boosting international position through investment
Ramsa Defence was established in 2016 to develop and produce high-tech products and subsystems for the Turkish Armed Forces and other security forces, Turali Group Board of Directors chairman Ramazan Gucukturali told Anadolu.
Ramsa’s investment in Saudi Arabia is very important for it and the Turkish defense industry to become stronger in international markets, Gucukturali said, noting that the company has turned to foreign currency-earning activities by expanding abroad, the company,
He added: “We are a center of interest for our international partners in many areas such as research and development, design, production, logistics, training, and management with our value proposition, and with this investment, we are opening Turali Group’s first production base in Saudi Arabia.
“Our investment decisions that prioritize sustainability and global collaborations and create employment are a concrete example of our commitment.”
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