Boeing Signs Several Defense And Commercial Agreements With Saudi Arabia

(RTTNews) - Boeing Co.(BA) said that it signed several defense and commercial agreements with Saudi Arabia.

The U.S. President Donald Trump and Secretary of State Rex Tillerson were joined by King Salman bin Abdul-Aziz Al Saud, Crown Prince Mohammed bin Naif Al Saud and Deputy Crown Prince Mohammad bin Salman Al Saud at a signing ceremony that included Boeing products and services.

Saudi Arabia agreed to purchase Chinook helicopters and associated support services as well as guided weapon systems.

Saudi Arabia plans to order P-8 maritime, patrol and reconnaissance aircraft, which are based on the Boeing 737 commercial airplane.

The company noted that the joint venture with the Kingdom to provide sustainment services for a wide range of military platforms. The agreement also supports Saudi Arabia's efforts to grow its indigenous aerospace industry and ecosystem through its Vision 2030 initiative.

A commercial registration certificate for the Saudi Rotorcraft Support Company, a newly formed joint venture between Boeing, Alsalam Aerospace Industries and Saudia Aerospace Engineering Industries with bases in both Riyadh and Jeddah that will provide support for both military and commercial helicopters.

Boeing also said it will negotiate sale of up to 16 widebody airplanes to SaudiGulf Airlines.