INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Saudi Arabia teams up with China to produce UAVs in kingdom

A man captures images of the ARK UAV E35 by XBO Robotics during a live demonstration at the UMEX Exhibition showcasing drones, robotics, and unmanned sytems at the Abu Dhabi National Exhibition Centre in the gulf emirate on February 23, 2022. (Photo by - / AFP)
  • The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group
  • This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions

Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.

The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group.

This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions.

China Electronics Technology Group, the state-owned defense conglomerate specializing in dual-use electronics, will aid in establishing a research and development center and manufacturing team for various types of unmanned aerial vehicle payload systems.

This comes in line with Saudi Vision 2030 as the Kingdom aims to localize the field of military industries and maximize the sector’s contribution to the national economy.