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2024-10-07
ELT Group Boosts Saudi Presence with Strategic Pact
In a major move to bolster collaboration in the aerospace and defence sectors, the ELT Group has signed a Memorandum of Understanding (MoU) with the Ministry of Investment of the Kingdom of Saudi Arabia (MISA) and the General Authority for Military Industries (GAMI).
The strategic agreement, aimed at aligning with Saudi Arabia’s Vision 2030, focuses on exploring opportunities for training and the development of a domestic supply chain within the Kingdom.
Key Goals
Saudi Arabia’s Vision 2030, launched in 2016, aims to diversify the economy, empower citizens, and establish the Kingdom as a global leader. The plan focuses on three pillars: a vibrant society, a thriving economy, and an ambitious nation. Key goals include reducing oil dependence, increasing private sector contribution to GDP, expanding tourism, and empowering women.
The vision is supervised by the Council of Economic and Development Affairs and implemented through Vision Realisation Programmes.
The MoU was formalised during a ceremony attended by important personalities, including Enzo Benigni, President and CEO of ELT Group, and Eng. Khalid bin Abdulaziz Al-Falih, Saudi Minister of Investment.
With over 70 years of expertise in managing the electromagnetic spectrum and developing advanced electronic defence systems across a range of critical domains—including naval, air, land, cyber, and space—ELT Group is well positioned to make a significant contribution to the growth of Saudi Arabia’s defence capabilities.
Leveraging its extensive experience and innovative technologies, the Group aims to support the Kingdom in building a robust and self-sustaining defence infrastructure. This expertise will be instrumental in strengthening Saudi Arabia’s operational readiness and in fostering the development of a domestic defence industry.
Strong Relationship
The Group has a long-established history and strong relationship with the country, marked recently by the establishment of a Saudi company, Elettronica for Industries LLC, focused on localising logistic support and, more extensively, the entire value chain.
Elettronica, one of the global leaders in electronic warfare, provides cutting-edge solutions for air, sea, land, space, and cyber domains, with a proven track record of supporting defence organisations.
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