Source: CNBC
March 05 2019
The Pentagon has contracted Lockheed Martin to supply Saudi Arabia with the Terminal High-Altitude Area Defense (THAAD) system, reports CNBC.
On Monday, the U.S. Missile Defense Agency awarded Lockheed Martin Missile and Fire Control, Dallas, Texas, a US$945.9 million Foreign Military Sales contract for Phase I long lead items, obsolescence, tooling and test equipment and associated support for the project, the Pentagon said.
Work under the contract is scheduled to be completed by Oct. 31, 2026.
Obsolete systems currently in place will be updated to accommodate THAAD within the Saudi missile defense architecture, reported Reuters.
In November, Riyadh signed a letter of acceptance for 44 launchers, missiles and associated equipment. The entire system has an estimated cost of US$15 billion, according to previous statements by the State Dept.
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