Lockheed gets $1 billion down payment for Saudi THAAD missile system

FILE PHOTO - Trade visitors are seen walking over a road crossing covered with Lockheed Martin branding at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby Melville/File Photo - Copyright Toby Melville(Reuters)

By Reuters

Published on 04/03/2019 - 23:34•Updated 23/04/2024 - 22:14

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WASHINGTON (Reuters) - Lockheed Martin Corp will receive the first payment towards the installation a $15 billion (11.4 billion pounds) missile defence system in Saudi Arabia as part of a $110 billion arms package the Trump administration said it negotiated with the Kingdom in 2017, the Pentagon said on Monday.

The Pentagon awarded Lockheed a $946 million payment for the foreign military sale.

(Reporting by Mike Stone; Editing by Lisa Shumaker)

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