crashbandicootps5| Saudi Arabia seeks cooperation with Boeing and Airbus on aircraft metals

Saudi Arabia said it is working with top aircraft manufacturer Boeing (BAcrashbandicootps5.US) and Airbus (EADSYcrashbandicootps5.US), seeking approval for its aluminum and titanium to be used in the two companies 'aircraft as part of a push to promote more domestic manufacturing in Saudi Arabia.

Obtaining certification may help aircraft manufacturers overcome supply barriers, including difficulties in obtaining some raw materials. According to the Saudi Civil Aviation Administration (GACA), Saudi Arabia is also discussing producing more aircraft parts locally.

"Boeing, Airbus and Embraer Aviation Industries (ERJ.US) have all expressed interest in establishing long-term facilities for certain parts and components in Saudi Arabia," GACA Chairman Abdulaziz Al-Duailej said in an interview ahead of the Riyadh Future Aviation Forum.

It is understood that Saudi Arabia is striving to become a new metals and mining center, looking for ways to get rid of its dependence on oil and diversify its economy. As Saudi Arabia is about to become the main source of orders for new aircraft, Saudi Arabia is in talks with aviation giants to become part of their metal purchases. Saudi Crown Prince Mohammed bin Salman has ambitions to develop the country's transportation industry, including a comprehensive reform of the country's aviation industry and the establishment of new airlines.

Saudi state-owned airline Saudi Arabia announced today that it has ordered 105 narrow-body aircraft from Airbus, the largest transaction in the airline's 80-year history.

Last year, Saudi Arabia also ordered dozens of Boeing aircraft, and Riyadh Air, a new airline being built by Saudi Arabia's sovereign wealth fund, placed similar orders.

In addition, Boeing signed a memorandum of understanding with local conglomerate Tasnee last year to explore the development of aerospace grade titanium in Saudi Arabia. According to a statement, the company produces about 10% of global production of sponge titanium, a key material in the aviation industry.

GACA's Al Duailej believes Boeing will maintain its position as a leading manufacturer in aviation even as the company struggles to cope with the impact of the worst crisis in years.

Al Duailej said Saudi Arabia's goal is to attract US$100 billion in investment in the aviation industry by 2030, driven mainly by spending from Saudi Arabia's sovereign wealth fund.crashbandicootps5He estimates that about half of it will be used for airports and infrastructure, and the rest will be used for aircraft and itscrashbandicootps5He is active.

GACA also plans to privatize its airports by 2030, with Abha International Airport in southern Saudi Arabia being the next airport to be privatized. Interested parties include global operators, contractors and foreign asset managers.