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FINANCIAL NEWS
Saudi to ink USD60b arms deal with Boeing, Rockwell Collins, US
22 Feb 2011
(MENAFN) US-based Rockwell Collins’ executive vice president for international and service solutions, Greg Churchill, said that during the coming six month, Saudi Arabia eyes the acquiring of arms worth up to USD60 billion from the US, reported Arabian Business.
Churchill said that Rockwell Collins, Boeing, the US government and Saudi Arabia are in negotiations regarding these deals. Offers were sent across and approvals are yet to be acquired. Churchill said that the period of six months would be sufficient for the completion of the deals.
Churchill said that the world’s number one oil exporter is in need of 84 F-15 fighters, upgrades for 70 existing jets and 200 helicopters, laser-guided missiles and bombs, as well as advanced radar systems. Once the deal is finalized, it would be a new record for the US in the size of arm deals.
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