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Lockheed awarded $1.48 billion Saudi missile defence contract - Pentagon

Lockheed awarded $1.48 billion Saudi missile defence contract - Pentagon
FILE PHOTO: Lockheed Martin's THAAD missile model is displayed during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. REUTERS/Kim Kyung-Hoon/File Photo -
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Kim Kyung Hoon(Reuters)
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WASHINGTON (Reuters) – Lockheed Martin <LMT.N> was awarded a $1.48 billion (£1.1 billion) contract to build the THAAD missile defence system for Saudi Arabia, bringing the total value of the deal to $5.36 billion, the Pentagon said on Friday.

The new contract was a modification to a previously awarded agreement to produce the Terminal High Altitude Area Defense interceptor for Saudi Arabia, the Pentagon said.

In November 2018, Saudi and U.S. officials signed letters of offer and acceptance formalising terms for Saudi Arabia’s purchase of 44 THAAD launchers, missiles and related equipment.

In April Lockheed was awarded a $2.4 billion contract for THAAD interceptor missiles, some of which are slated to be delivered to the Kingdom of Saudi Arabia.

The latest contract is for interceptor support items.

Lockheed Martin, the biggest U.S. arms maker, builds and integrates the THAAD system, which is designed to shoot down short-, medium- and intermediate-range ballistic missiles. Raytheon <RTN.N>, another U.S. firm, builds its advanced radar.

(Reporting by David Alexander; Editing by Tom Brown)

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