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FINANCIAL NEWS
Saudi to recertify Patriot missiles program with USD130m order
02 Dec 2012
(MENAFN) The US Defense Security Cooperation Agency stated that it received a Saudi USD130 million military package order to recertify the Kingdom’s Patriot Missiles program, reported Arabian Business.
The agency said that the order, which still needs the Congress’ approval, would provide Saudi with technical services to re-certify the functional shelf life of 300 Patriot guidance enhanced missiles and associated equipment.
It added that the move would allow the country’s Air Defense Forces to extend the shelf life of the PAC-2 missiles for another 12 years.
It is worth noting that recently, Saudi also submitted an order to acquire USD300 million worth of military equipment spare parts from the US.
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25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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