Saudi signs US$3 billion deal with UK to buy trainer jets
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Wed May 23, 2012 12:18 pm

SAUDI ARABIA. Saudi's defence ministry has signed a US$3 billion deal with Britain to buy trainer jets for the kingdom's air force, SPA state news agency reported on Wednesday.

The deal also includes simulators, ground and training equipment and spare parts, SPA said, quoting a defence ministry official.

The official said the new jets would help qualify Saudi pilots "to use fourth generation jet fighters in full professionalism and efficiency."

Saudi Defence Minister Prince Salman bin Abdul Aziz in April visited Britain, a major supplier of weapons to the oil-rich kingdom.

Saudi Arabia in 2006 ordered 72 Eurofighter Typhoon fighters in a deal valued at $32.9 billion. The multi-role aircraft is built by a consortium of European firms in which Britain's BAE Systems has a 33-percent share.

The BBC said the deal is for Hawk jets from BAE Systems and will be formally announced later in the day.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 23, 2014
UAE. Deflationary reading of data endangers risky assets; Global cues drive GCC markets; Growth scare unsettles investors; Extreme bearishness on oil may be overdone.
date:Posted: October 23, 2014
SAUDI ARABIA. The 2014 study - which outlines the top priorities that concern young Saudis - is key to helping policymakers and business leaders design initiatives targeted at improving the lives of the Kingdom's current and future generations.
date:Posted: October 22, 2014
UAE. 47% of Middle Eastern respondents indicated that they are considering a proactive shareholder engagement policy which can open and sustain a productive dialogue with investors.
dhgate