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Saudi Arabia Requests $1.7 Billion In Patriot With PAC-3 Enhancement

Thursday, October 16th, 2014

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The Defense Security Cooperation Agency (DSCA) notified Congress Sept. 30 of a potential $1.7 billion Foreign Military Sale to Saudi Arabia for a Patriot Air Defense System with PAC-3 enhancement and associated equipment and logistics. The State Department has approved the proposed FMS. If Congress approves the sale, the principal contractors would be Raytheon [RTN] and Lockheed Martin [LMT]. Although offsets are requested, they are unknown at this time and will be determined during negotiations between Saudi Arabia and the…

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