SAMI Develops Industrial Complex for Defense Ground Systems

The second edition of the World Defense Show is currently held in Riyadh. (Photo: Asharq Al-Awsat)
The second edition of the World Defense Show is currently held in Riyadh. (Photo: Asharq Al-Awsat)
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SAMI Develops Industrial Complex for Defense Ground Systems

The second edition of the World Defense Show is currently held in Riyadh. (Photo: Asharq Al-Awsat)
The second edition of the World Defense Show is currently held in Riyadh. (Photo: Asharq Al-Awsat)

The Saudi Military Industries Company (SAMI), a wholly-owned Public Investment Fund company, is scheduled to complete construction of an industrial complex for ground systems in the third quarter of 2025.
In an interview with Asharq Al-Awsat, Wael Al-Sarhan, Chief Communications and Support Services at SAMI, revealed that an agreement was signed with Zamil Steel Construction Company, a subsidiary of Zamil Industrial Investment Group, to begin construction of the SAMI industrial complex for ground systems.
Speaking on the sidelines of the World Defense Show, which is currently held in Riyadh, Al-Sarhan noted that the facility is being built according to the highest international standards for manufacturing ground systems, including integration, armoring, and all customer requirements, including four-, five- and six-wheel drive vehicle systems.
According to information released on the project, the SAMI Industrial Complex for Ground Systems, which is located in the city of Al-Kharj (central Saudi Arabia), is the first of its kind in the Kingdom to manufacture armored vehicles, provide logistical support, and test and maintain related services.
Al-Sarhan stressed that SAMI has the ability to maintain aircraft landing systems, as well as manufacture composite materials for aviation systems and advanced electronics.
He explained that during the second edition of the World Defense Show, the company showcased the latest advanced products that meet the Kingdom’s needs and simulate its future aspirations.
Al-Sarhan added that the company is revealing its capabilities through its five basic sectors, including the aviation and space sector, which includes the manufacture of drones, as well as “maintenance, repair, and overhaul,” which constitute more than 60 percent of the value of the aircraft.
“We are also showcasing the capabilities of the Marine Systems Sector to convert a boat, which was received from the Royal Navy, into a pilot boat,” he told Asharq Al-Awsat.
During the ongoing world exhibition, SAMI signed partnerships and agreements with companies with the aim of enhancing its abilities in various defense and security sectors, under the auspices of the General Authority for Military Industries (GAMI).



Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Prices Climb on Safe-Haven Demand; US Payrolls Data in Focus

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices climbed on Friday, supported by safe-haven demand arising from the Middle East conflict, while spotlight shifted towards US payrolls report to gauge the trajectory of the Federal Reserve's policy path.
Spot gold was up 0.3% at $2,662.50 per ounce, as of 0325 GMT, after climbing to an all-time high of $2,685.42 on Sept. 26. Bullion has gained 0.2 for the week.
US gold futures edged 0.1% higher to $2,682.10.
The dollar eased 0.1%, pulling back from over a one-month high, making greenback-priced bullion less expensive for other currency holders, reported Reuters.
Geopolitical tensions, particularly concerning Israel and Iran, are supporting gold prices and unless these risks subside, prices are likely to remain near record levels, said Ajay Kedia, director at Kedia Commodities, Mumbai.
The US is discussing strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel, President Joe Biden said, while Israel's military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah.
Bullion is considered a safe investment during times of political and financial uncertainty, and thrives in a low-rate environment.
The US nonfarm payroll data is due at 1230 GMT. New York Fed President John Williams and Chicago Fed President Austan are also scheduled to speak later in the day.
If the NFP report comes in strong, it will be positive for the dollar and then gold prices will see some profit-booking, Kedia added.
Traders see a 69% chance of a 25-basis-point Fed rate cut in November, according to CME FedWatch Tool.
BMI said in a note it expects gold prices to trade within the range of $2,500 to $2,800 in the coming months.
Spot silver rose 0.4% to $32.17 per ounce and has gained about 1.8% so far this week.
Platinum climbed 1.1% to $1,001.79 and palladium advanced 1.4% to $1,013.46.