Saudi signs deal for five warships

Riyadh : Saudi Arabia’s state-owned defence company has forged a deal with Spanish shipbuilder Navantia for a joint venture to build five warships, state media said yesterday.

The agreement with Saudi Arabian Military Industries for the design and construction of five Avante 2200 corvettes warships will start this autumn, with the last unit to be delivered by 2022, the official Saudi Press Agency reported. The agreement appears part of a framework agreed in April during Crown Prince Mohammed bin Salman’s visit to Spain for Navantia to provide warships to the Gulf state for around two billion euros ($2.3 billion).