CNN:
(CNN)The first phase of Saudi Arabia’s long awaited purchase of an advanced US missile defense system has been finalized with the formal awarding of a contract on Monday.
Lockheed Martin was awarded a contract for Phase I “long lead items” of the Terminal High Altitude Area Defense (THAAD) missile defense system, to include early engineering development, test equipment, key personnel and initial training development, according to a statement from the Pentagon.
The Defense Department said the first phase of the contract will cost $945,900,000.The State Department had previously estimated the cost of the entire THAAD sale to be $15 billion.
President Donald Trump included the THAAD purchase in his list of proposed $110 billion in arm sales that he touted during his 2017 meeting with King Salman bin Abdulaziz Al Saud.
