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EADS wins Saudi border guard deal
Source: BI-ME and agencies , Author: BI-ME sta
Posted: Wed July 1, 2009 3:07 pm
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INTERNATIONAL. European aerospace group EADS and a Saudi partner have won a contract estimated at around €2 billion (US$2.81 billion) to provide Saudi Arabia with radars and command posts along the border to deter attacks from sea, air or land, the online edition of the French weekly Le Point reported Wednesday.

An official at the local partner confirmed the report on Wednesday.

"It was signed last night," the official at Al-Rasheed Trading & Contracting told Reuters, speaking on condition of anonymity.

The deal covers the rest of the Saudi land border after the consortium already won a contract covering the northern border to Iraq and now also includes the air and sea borders, the official said.

EADS is expected to officially unveil the Saudi Border Guard Development Program (SBGDP) contract in a statement on Wednesday afternnon, the website of French weekly le Point added.

The Saudi Border Guard Development Program (SBGDP) involves the installation of radar and command posts to prevent attacks by sea, land and air along 8,000 kilometers of Saudi border.

EADS was chosen over rivals British Aerospace and the US giant Raytheon as well as the French leader in military electronics Thales.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. A majority of investors expects the US Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynch Survey of Fund Managers for November.
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INTERNATIONAL. Faber said, considering the size of the stimulus packages and the monetary printing, the US economy hasn't responded well. What have responded well are asset markets but unemployment is horrrible and the typical household is suffering.
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