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FINANCIAL NEWS
Alsalam, RSAF sign SR545m contract
25 Apr 2011
(MENAFN) Alsalam Aircraft Company stated that it won a contract worth USD145 million for providing C-130 technical support services (TSP) to Royal Saudi Air Force (RSAF), reported Saudi Gazette.
Alsalam said that it won the support contract for RSAF for the second time. The contract is valid for five years during which Alsalam would maintain the RSAF fleet within and outside the Saudi Arabia.
The previous contract for support that was given to Alsalam by RSAF was signed back in 2008 and lasted for three years.
It is worth noting that Alsalam Aircraft Co. is a joint venture company with Boeing Industrial Technology Group (BITG) which is holding 50 percent share, Saudi Arabian Airlines with a 25 percent stake, Saudi Advanced Industries Company with a 10 percent stake, Gulf Investment Company with a 10 percent stake and the National Industrialization Company with a five percent stake.
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