Spain aims at 3 bln euro Saudi arms deal -paper

| October 25, 2010

MADRID, Oct 25 (BestGrowthStock) – Spain is attempting to secure a 3
billion euro ($4.17 billion) arms deal with Saudi Arabia for
U.S. defence group General Dynamics Corp’s (GD.N: ) Spanish
affiliate, El Pais said in a report on Monday.

Spain hopes to finalise a deal for General Dynamics Santa
Barbara to sell 200-270 models of its Leopard 2E tank when Saudi
defence minister prince Khaled bin Sultan pays his official
visit to the country in November, the newspaper said, without
citing sources.

Saudi Arabi, a key U.S. ally in the Middle East, is in the
process of revamping its military hardware and is firming up a
$60 billion military aircraft contract with the United States,
which was announced last week [ID:nN20224429].

General Dynamics, a supplier for the American army in the
Iraq and Afghanistan wars, acquired tank maker Santa Barbara
from the Spanish government in 2001.

El Pais said Khaled bin Sultan is expected to meet Spanish
Prime Minister Jose Luis Rodriguez Zapatero and King Juan Carlos
on his official visit.

Spain’s Foreign Ministry had no immediate comment.
(Reporting by Jonathan Gleave; Editing by Will Waterman)
($1=.7187 Euro)

Spain aims at 3 bln euro Saudi arms deal -paper

Category: Business News

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