SAMI Navantia launches center of excellence to boost Saudi naval industry capabilities 

he Commander of the Royal Saudi Navy, Vice Admiral Fahd bin Abdullah Al-Ghufail. SPA
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Updated 20 March 2024
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SAMI Navantia launches center of excellence to boost Saudi naval industry capabilities 

RIYADH: Saudi Arabia’s naval industry will receive a technological boost as SAMI Navantia launches a new facility to enhance defense sector capabilities.

The Naval Systems Integration and Development Center of Excellence was inaugurated at SAMI Navantia Naval Industries’ headquarters in Riyadh, in the presence of the Commander of Royal Saudi Naval Forces, Vice Admiral Fahd bin Abdullah Al-Ghufaili.

SAMI Navantia is a joint venture between Saudi Arabian Military Industries and Navantia S.A., a Spanish state-owned shipbuilding company, aimed at advancing naval industry capabilities.

To optimize the center’s performance, the company has invested in computer equipment and software, implemented clear procedures, and developed policies, the Saudi Press Agency reported. 

This underscores the firm’s commitment to providing high-quality products for naval forces. Such investments also reinforce SAMI Navantia’s prominent position in the systems industries, it added.

According to the SAMI website, the excellence center aims to enhance capabilities efficiently, provide advanced technologies, and introduce modern approaches to meet the requirements of the RSNF.

The event was attended by senior executives from both firms, marking a significant milestone in the company’s journey to contribute to the goals of Saudi Vision 2030, the SPA report added.

It also states that, to ensure the center performs its mission effectively, SAMI Navantia, with support from SAMI, has invested in computer equipment and programs, adding that the firm also established clear procedures and policies that reaffirm its commitment to delivering the best products to serve the naval forces and solidify its position as a leading company within the sector.

SAMI stated that the center aims to integrate and advance naval systems through high-performance software, bolstering local expertise and fostering the forces' autonomy. This involves providing cutting-edge capabilities like artificial intelligence, cybersecurity, and integrating unmanned vehicles.

In its statement, SAMI said that it aims to build a strong partnership with the RSNF, becoming its technological partner, adding that it is committed to training and developing national personnel to work alongside the naval forces in strengthening the defense sector in line with the goals outlined in Saudi Vision 2030.

SAMI CEO Walid Abukhaled stated that they are proud of the level of cooperation that binds them to the RSNF and SAMI Navantia. He added that they are fully committed to providing support to the naval forces and look forward to achieving further progress and innovation through qualified national hands.


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.