Riyadh-based Taqnia Defense and Security Technologies (DST) and Turkish Armed Forces Foundation company Aselsan have established a joint company to work in the field of defense electronics.
The Taqnia DST-Aselsan joint firm, called Saudi Arabian Defence Electronics Company, is a limited liability company that will work to operate in the field of radar, electronic warfare and electro-optic technologies.
Taqnia DST is a subsidiary of Saudi Technology Development and Investment Company, which is owned by the Public Investment Fund.
Aselsan is owned by Turkish Armed Forces Foundation and is the country’s biggest defense firm.
The joint venture agreement was signed by Hamad al-Yousefi, the chief executive officer of Taqnia DST, and Mustafa Murat Şeker, the chairman of Aselsan.
Saudi Arabia’s Prince Dr. Turki bin Saud bin Mohammad al-Saud, president of King Abdulaziz City for Science and Technology (KACST) and Chairman Saudi Technology Development and Investment Company, and Undersecretariat for Defense Industries (SSM) head İsmail Demir also signed the agreement as witnesses for the joint venture.
Commenting on the foundation of the joint company, the KACST president said, “We are making an important investment for the establishment of this world class facility which will improve our country’s human resources, economic growth and development.”
Aselsan had inaugurated a joint venture production plant in Jordan in December 2014 with the hope of creating a gateway to Middle Eastern and North African markets.
The JV, Aselsan Middle East (AME) is a partnership between Aselsan and King Abdullah II Design and Development Bureau (KADDB). KADDB owns 51 percent of AME, and Aselsan has 49 percent.
AME produces border security equipment for the Jordanian army and potentially other Middle East armies. It produces night vision and thermal camera systems, and operates test and calibration laboratories. AME has a capacity to produce 6,000 night vision devices annually.