United States President Donald Trump has completed a $110 billion arms agreement with Saudi Arabia, making it the largest single arms deal in American history, according to a White House official.
The agreement includes a $6 billion letter of intent to assemble 150 Lockheed Martin Blackhawk helicopters, and comes as part of an additional $350 billion over the coming 10 years.
“This is huge news for US companies and American workers who will benefit,” Sean Spicer, White House Press Secretary, said on his official Twitter account.
The landmark arms deal follows today’s Saudi-US business Forum, in which 23 business deals totaling more than $55 billion were signed. This included an agreement with General Electric for $15 billion deals ranging from the healthcare sector, energy, oil and gas, as well as the mining sector.
Saudi Aramco alone reportedly signed $50 billion deals with American companies, including a deal with McDermott, which is set to move some of its ship fabrication facilities from Dubai to a shipbuilding complex in Saudi Arabia
Trump is currently on a two-day visit to Saudi Arabia, as part of an eight-day journey that will include visits to Italy, Israel, and Belgium. The US president’s visit to the Kingdom aims to bolster US ties with Muslim nations.
Write to Reem Abdellatif at reem.a@argaam.com
Comments
{{DisplayName}}
{{ElapsedTime}}