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FINANCIAL NEWS
Saudi Arabia wants to buy US military aircraft in a multi-billion deal
11 Nov 2012
(MENAFN) US Defence Security Cooperation Agency unveiled that Saudi Arabia has ordered 20 heavy cargo aircraft and five refuelling planes for USD6.7 billion, Arabian Business reported.
The deal, pending the Congress approval, also includes the cost of training, logistical support, parts and associated equipment for the aircraft, according to a statement.
The statement said that Saudi Arabia needs these aircraft to sustain its aging fleet, which faces increasing obsolescence.
The proposed sale of C-130J and KC-130J aircraft will provide a modern configuration, improve reliability and enhance the Royal Saudi Air Force’s ability to effectively field, support, and employ these aircraft, the statement added.
Congress has 30 days to raise objections, otherwise the deal will be concluded.
Earlier this month, Qatar has ordered missiles and defence equipment from the US for USD9.9 billion just days after it placed an order for USD6.5 billion worth of missile-defence systems.
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