Companies

Saudi Arabian Military Industries (SAMI)

Saudi Arabia · Defence manufacturing · State-owned · Founded 2017

Saudi Arabian Military Industries appears in the Public Investment Fund's portfolio, which says it was founded in May 2017 as a national entity for developing military industries in the Kingdom, with a target to localise half of military expenditure by 2030. PIF's launch release of 18 May 2017 called it wholly government-owned and set targets for 2030: to rank among the world's top 25 defence companies, contribute about SAR 14 billion directly to GDP, invest over SAR 6 billion in research and development and create over 40,000 jobs. Those are targets stated at launch, not results. A company announcement of 30 January 2025 says its board, chaired by Prince Khalid bin Salman bin Abdulaziz, appointed Thamer AlMuhid as chief executive from 1 February 2025. The company does not publish audited financial statements that INXEN has found.

www.sami.com.sa ↗