May 18 Saudi Arabia on Wednesday announced the launch of a Saudi Company for Military Industries aimed at providing up to 50,000 jobs by 2030, state-owned Ekhbariya TV reported.

“The company’s contribution to the kingdom’s gross domestic product is expected to reach more than 14 billion riyals ($3.7 billion) by 2030, Ekhbariya added in a news flash.

Source: reuters.com