Global defense firm, Lockheed Martin, has been awarded a $1.48 billion contract to build the Terminal High Altitude Area Defense (THAAD) missile system for Saudi Arabia, the Pentagon said on Friday.

 

The total value of the contract increased to $5.36 billion from $3.89 billion after the awarding, the Pentagon added.

 

The new contract was a modification to a previously awarded agreement to produce the THAAD interceptor for Saudi Arabia.

 

The latest contract is for interceptor support items in support of the Foreign Military Sales (FMS) case.

 

In November 2018, Saudi and US officials signed letters of offer and acceptance formalizing terms for Saudi Arabia's purchase of 44 THAAD launchers, missiles and related equipment.

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