Global security and aerospace leader Lockheed Martin has launched a new strategic relationship with King Abdulaziz City for Science and Technology (KACST).   

The relationship, which builds on already existing links between the two organisations, commits Lockheed Martin and KACST to jointly allocate research investment funding for Saudi universities, over a three year period.

Universities in the kingdom can apply for grants to support involvement in research projects which are linked to the future defence and national security of Saudi Arabia, said a statement.

An agreement to launch the new investment fund was signed by Dr Turki S Al-Saud, vice president for KACST Research Institutes and Dr John Evans, vice president international engineering and technology in Riyadh.

This development underlines Lockheed Martin’s commitment to helping the kingdom create a more diversified economy through the development of professional capabilities, relevant to current and future market needs, the statement said.
 
In addition to the new strategic partnership with KACST the company is already partnering with the King Abdullah University of Science and Technology (KAUST) in Thuwal, Jeddah and Al Faisal University in Riyadh. Separately, Lockheed Martin has as a business partnership with Saudi Arabian Airlines, to jointly pursue new business opportunities in the kingdom. - Reuters