SAMI, Hanwha to produce munitions in KSA

The MoA was formally signed on June 26 by Dr. Andreas Schwer, CEO of SAMI, and Sungsoo Lee, CEO of Hanwha Defense, who represents the Hanwha companies.
Updated 02 July 2019

SAMI, Hanwha to produce munitions in KSA

Saudi Arabian Military Industries (SAMI) has signed a memorandum of agreement (MoA) with Korean conglomerate Hanwha Group’s three affiliates, namely Hanwha Corporation, Hanwha Defense Co. Ltd., and Hanwha Systems Co. Ltd., to explore the formation of a joint venture company (JVC) in Saudi Arabia. 

The MoA was formally signed on June 26 by Dr. Andreas Schwer, chief executive of SAMI, and Sungsoo Lee, CEO of Hanwha Defense, who represents the Hanwha companies. 

Set to be established as a limited liability company in Riyadh and tentatively named as SAMI-Hanwha Munitions Systems LLC, the proposed entity will initially focus on the manufacturing and sale of munitions within Saudi Arabia. 

The JVC will later evaluate the possibility of furthering capability in technology and expanding its product lines to ammunition and weapons, rockets, artillery systems, combat vehicles, defense systems, naval systems, command, control, communications, computers, and intelligence (C4I) systems, and intelligence, surveillance and reconnaissance (ISR) systems. 

SAMI CEO Dr. Schwer said: “We are pleased to join forces with Hanwha Corporation, Hanwha Defense, and Hanwha Systems to help advance the Kingdom’s domestic aerospace and defense industries. With their more than 60 years’ history of active participation in the localization of imported defense products contributing to Korea’s military self-sufficiency and propelling its economic growth, the Hanwha affiliates are strategic partners for us in our endeavors aimed at helping achieve the ambitious goals outlined in Saudi Vision 2030. We are confident that this collaboration will bring unmatched benefits to our economy and people.” 

Hanwha Defense CEO Lee said: “We have been working hard to see the fruition of our mutual engagement to localize Hanwha’s vast array of defense products: From munitions to land systems and defense electronics. Hanwha is fully committed to contributing its defense expertise to help achieve the Vision 2030 objectives. 

“Hanwha will also work closely with South Korean and Saudi Arabian governments and local companies for the transfer of technology and co-development projects whenever the opportunity arises.” 

Established in May 2017, SAMI is owned by the Public Investment Fund (PIF) — Saudi Arabia’s sovereign wealth fund. The company operates four major business divisions, including aeronautics, land systems, weapons and missiles, and defense electronics. 

Aiming to be among the top 25 military industries companies in the ‎world by 2030, SAMI is expected to play a key role in localizing 50 percent of the Kingdom’s ‎total government military spending. 

‎The company is also focused on increasing exports and bringing foreign investment to ‎the Kingdom’s military industries sector.


Khalaf Al Habtoor extends timely medical assistance to Lebanese hospitals

Updated 45 min 19 sec ago

Khalaf Al Habtoor extends timely medical assistance to Lebanese hospitals

  • Al Habtoor will arrange one-month’s worth of urgent medical supplies for hospitals in the country that have more than 1,000 beds
  • The Khalaf Al Habtoor Hospital at Hrar in northern Lebanon will open up auxiliary treatment support for patients who are unable to be accommodated in Beirut hospitals

DUBAI: Khalaf Al Habtoor, Founding Chairman of Al Habtoor Group (AHG) based in the UAE is reaching out with timely aid for the Lebanese people after the massive explosion at a Beirut port on Tuesday, August 4 that devastated many neighborhoods, leaving more than a hundred dead people and thousands injured.

Al Habtoor, known for his philanthropic activities in the UAE and abroad, said he will extend all possible efforts within his means to aid the affected people in Lebanon as a first step of a multi-pronged assistance plan. As a first step, Al Habtoor will arrange one-month’s worth of urgent medical supplies for hospitals in the country that have more than 1,000 beds. The hospitals to be aided through this initiative include Haroun Hospital, Al Makasid Hospital, Levant Hospital, Rizk Hospital, Rafic Hariri Hospital, Hotel Dieu Hospital and the Khalaf Al Habtoor Hospital, Hrar.

Additionally, the Khalaf Al Habtoor Hospital at Hrar in northern Lebanon will open up auxiliary treatment support for patients who are unable to be accommodated in Beirut hospitals, conducting at least 100 operations for those injured in the explosion. To help those who require much needed recovery and recuperation assistance, the hospital will also rent out a nearby hotel, which will act as a temporary off-site field hospital for post-operative care and treatment.

More than 300,000 people have been left homeless by the blast, which tore through several dozen neighborhoods close to the port area, razing several buildings and shattering glass windows in a much wider area outside the blast zone. Two hotels owned by Habtoor Hospitality in Beirut, Hilton Beirut Habtoor Grand and Hilton Metropolitan Palace, have been damaged in the fallout of the explosion.

Al Habtoor said: “The country and people of Lebanon have always had a special place in my heart. This explosion which has devastated the capital city in the midst of an already severe economic crisis has left the common people badly shaken. We offer our deepest condolences to the families of the victims and will leave no stone unturned in reaching them the best possible emergency and medical aid, post-operative care and temporary accommodation for those rendered homeless by the tragic event.”

He added that the cries of the Lebanese people for help have been heard and that it was important to respond by offering the right kind of assistance and treatment, in terms of quantity, quality and the timing it reaches the people.

The visionary entrepreneur and philanthropist has extended generous contribution to Lebanon in various forms over the last decade, including refugee aid programs, Ramadan campaigns, wintertime distribution of food packages and blankets, the establishment of The Khalaf Al Habtoor Hospital, and a multitude of charitable donations.