FINANCIAL NEWS

No deals with Sweden to set up arms plant: Saudi govt

15 Apr 2012

(MENAFN) Saudi Defense Ministry said that the country has not inked any contract with Sweden to obtain an arms plant from the European country, reported Reuters.

The ministry added that no deal was signed with Sweden related to this matter, and there are no plans for such project at the current time.

The statement from the Saudi ministry comes weeks after the Swedish defense minister Sten Tolgfors was forced to resign over reports his country planned to help the Kingdom establish such a factory.

It is worth noting that initial reports said a Swedish state-run defense research agency planned to help Saudi build the plant.

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