Saudi Military Industries plans to produce drone -state TV

March 6 (Reuters) - Saudi Arabian Military Industries plans to produce a Saudi-made drone and to establish one of the world's biggest munitions factory, the kingdom's state TV al-Ekhbariya reported on Sunday citing chief executive Walid Abukhaled.

Saudi Arabia plans wants to channel 50% of its military spending to Saudi companies by 2030, he said, according to the TV channel.

Sami, as the company is known, is owned by the Saudi sovereign Public Investment Fund (PIF).

Reporting by Moataz Mohamed, writing by Maher Chmaytelli, Editing by Catherine Evans

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