Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the kingdom’s sovereign wealth fund, Public Investment Fund (PIF), signed a logistics services agreement with crude and chemical shipper Bahri.
Under the deal Bahri, in which PIF holds a 22.55 percent stake, will provide wide-ranging internal and external logistics services to the various business units and affiliated companies of SAMI, the military industries company said in a statement on Tuesday.
SAMI’s five business divisions, as well as its affiliates, including the Advanced Electronics Co., Aircraft Accessories and Components Co. (AACC), SAMINavantia, SAMI L3Harris, and SAMI CMI, will stand to benefit from the agreement.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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