New Saudi-made plane ’to take off next year’

[somebozo]

http://www.arabnews.com/featured/news/884811


RIYADH: A new military transport aircraft manufactured locally will be tested next year after 18 months of development and design.
This is according to Prince Turki bin Saud bin Mohammad, president of King Abdulaziz City for Science and Technology.

The AN-132 is the result of cooperation with Ukraine and would see 80 planes produced, partially in the former Soviet nation, he said.

The AN-132 is a modern version of the military transport plane AN-32, with modern engines and electronics that would make it more fuel-efficient and able to take off and land in various environments, he was quoted as saying by a local publication.
This coincides with Saudi Arabia signing five agreements with several companies affiliated with the Saudi Company for Development and Technical Investments, which is completely owned by the Public Investment Fund.

The agreements were signed with leading technology and manufacturing companies to establish five companies specializing in military and civil industries, satellite and radar production, and clean energy.
Prince Turki said two of the five agreements would see the manufacture of Black Hawk and Antonov aircraft, which would see a significant transfer of technology, and the production of these planes in the Kingdom.
This partnership is an expansion of a current agreement between KACST and Antonov to develop and manufacture AN-132 planes.

KACST would own 50 percent of the intellectual property, he said.
A Saudi company combining Technical Space Company and US Digital Globe has been set up to manufacture and market a number of small satellites for space photography. KACST aims to develop and manufacture six satellites.

Another deal was signed with Aselsan Turkish company to develop and manufacture radars and electro-visual devices in the Kingdom.
The pact includes training of staff. The company would provide maintenance and development services to the military and security sectors.

Picture of AN-132 model I took at AFED 2016. Riyadh.

 

[Sugarcane]

KSA had all the wealth and influence at her disposal, should have achieved lot more than this decades ago. Anyway congrats.

 

[GoldenRatio1618]

good step at least...

 

[That Guy]

You know, thinking about it, this is a pretty big boost for Ukraine. No doubt that the Russia won't be happy about this.

 

[marbella]

Oh ok they make things too. I kinda believed that being so rich they almost dont work or produce anything rather hire ppl and buy things from all over the world.

 

[azzo]

KSA had all the wealth and influence at her disposal, should have achieved lot more than this decades ago. Anyway congrats.

I disagree. It was impossible for KSA to do that. KSA at the times of Faisal was on the brink of collapse due to prior bad management, even Aramco, the main fund maker, was not fully owned by KSA. after that KSA started to nationalize its oil companies and started developing little by little, only during the 80s that Saudi had noticeable money, but in no way so vast to undertake tasks such as delving into aeronautics/space business, (~27B only in National fund, ~60B adjusted) and that period had since been called a boom (essential infrastructure developments, such as roads, hospitals, colleges, and airports). Then before developing further, the gulf war happened and KSA died economically for ~20 years and its development was stunted. KSA have never had the potential (logistically and financially) to develop to the extent you allude to until now.

 

[mingle]

Pak should look into it could be a lot cheaper than other transport we looking .

 

[somebozo]

You know, thinking about it, this is a pretty big boost for Ukraine. No doubt that the Russia won't be happy about this.

Russia itself has a $500 M contract for Saudi space program..

I disagree. It was impossible for KSA to do that. KSA at the times of Faisal was on the brink of collapse due to prior bad management, even Aramco, the main fund maker, was not fully owned by KSA. after that KSA started to nationalize its oil companies and started developing little by little, only during the 80s that Saudi had noticeable money, but in no way so vast to undertake tasks such as delving into aeronautics/space business, (~27B only in National fund, ~60B adjusted) and that period had since been called a boom (essential infrastructure developments, such as roads, hospitals, colleges, and airports). Then before developing further, the gulf war happened and KSA died economically for ~20 years and its development was stunted. KSA have never had the potential (logistically and financially) to develop to the extent you allude to until now.

A much part of that problems was bigoted policies dictated by religion rather than common sense - which force even the Saudis to shift their capital to American and European market. Saudi economic policy was to develop industries during the oil boom and then privatize them post-boom. But when the time came to make such a move there were mutawaa on one side declaring banking and stock market haraam....and royal family tycoon on other side grabbing everything they wanted like a piece of cake...And with first gulf war - it proved to be a final blow. If you look around all countries like Dubai, Kuwait, Qatar, Bahrain prospered despite oil collapse by developing financial sector and private industry to encourage forigen investments..While Saudi Arabia official policy was to ban forigen investment completely!

It wasnt until Abdullah took charge unofficially due to ailment of Fahd when SAGIA was formed and private investment begin to open gradually but still with a lot of hindrance and limitations which has kept high-tech investors out of the market..

Some how the policy during Fahd era was to limit private sector and banking..and limit the country potential to oil income - which created severe poverty and deprivation. At the same time only people with access to capital and business opportunity were those among the royal ranks or traditional business tycoons with connection to royal ..

 

[That Guy]

Russia itself has a $500 M contract for Saudi space program.

And? Russia's goal is to weaken and practically destroy Ukraine's economy.

 

[Shotgunner51]

I disagree. It was impossible for KSA to do that. KSA at the times of Faisal was on the brink of collapse due to prior bad management, even Aramco, the main fund maker, was not fully owned by KSA. after that KSA started to nationalize its oil companies and started developing little by little, only during the 80s that Saudi had noticeable money, but in no way so vast to undertake tasks such as delving into aeronautics/space business, (~27B only in National fund, ~60B adjusted) and that period had since been called a boom (essential infrastructure developments, such as roads, hospitals, colleges, and airports). Then before developing further, the gulf war happened and KSA died economically for ~20 years and its development was stunted. KSA have never had the potential (logistically and financially) to develop to the extent you allude to until now.

Yes, I can support your statement. KSA net foreign assets began to pick up from 1973 till early 1980's, then on a slow downward trend till early 2000's. It was only from mid 2000's onwards net foreign assets grew tremendously, reaching $672.2 billion as of May 2015.

Net foreign assets (current LCU) in Saudi Arabia
Saudi Arabia's net foreign assets drop by $6.6bn in May - ArabianBusiness.com​

To compare across with other nations. Check Net IIP by country (see following chart), while KSA does not report according to BPM6. KSA net external assets was $672.2 billion in May 2015, putting it 8th in the world after Japan, China Mainland, Germany, China Hong Kong, China Taiwan, Norway & Switzerland. Figures also show KSA is ahead of Singapore, Netherlands, Russia & Belgium. Given the population size, KSA is one of the richest in the world.

 

[somebozo]

And? Russia's goal is to weaken and practically destroy Ukraine's economy.

Russia own economy is in shambles and they may soon need income from Ukrainian sale of products based on joint IP from soviet era! Dont put confidence in ex-commies to be financially smart...Otherwise with wealth like Russia..Ruble would be a strong currency or evena reserve currency like Yen, Euro, USD and now Yuan!