Saudi Aerospace Engineering: $ 350 million foreseen in the Honeywell agreement

The CEO of Saudi Aerospace Engineering and Industry Company, which is one of the companies of Saudi Airlines, Fahad Sindi, confirmed that the signing of the agreement with HONEYWELL Company is a localization for the production, development and maintenance of engines for aircraft.

He specified that the expected returns from the agreement with “Honeywell”, to be its certified global center for maintenance, amount to 350 million dollars, noting that the term of the license granted by Honeywell to the company is 15 years.

Sindi added in an interview with the “Al Arabiya” channel on the sidelines of the Dubai Airshow, which the company has been granted a global license to maintain support power units, which is the first license of its kind in Middle East.

He explained that the Saudi Aerospace Engineering Company carries out its work through Saudi skills and executives.

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