March 27, 2018 / 5:37 PM / a year ago

Saudi Arabia to sign memorandum with Boeing to support fleet

NEW YORK, March 27 (Reuters) - Saudi Arabia will sign a memorandum of understanding (MoU) with U.S. planemaker Boeing Co to provide support and training to the kingdom’s fleet on an upcoming visit to Seattle, the chairman of the state-owned military industrial company said on Tuesday.

Part of an effort to localize 50 percent of its military industry by 2030, Ahmed Al Khateeb of Saudi Arabian Military Industries (SAMI) said Saudi Arabia is talking with major U.S. companies about their presence in the kingdom.

“We have been in dialogue with them to expand their business in Saudi Arabia. We will sign an MoU with Boeing in our visit to Seattle,” Khateeb told Reuters on the sidelines of the 2018 Saudi U.S.-CEO Forum in New York.

“Hopefully we will be announcing other MoUs with other big American companies,” said Khateeb, who is also chairman of the General Entertainment Authority.

Saudi Arabia’s crown prince is leading a whistle-stop visit to the United States and on Friday is scheduled to travel to the U.S. West Coast.

Reporting by Joshua Franklin in New York Editing by Marguerita Choy

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