PH Finalizes $527-M Military Aircraft Contracts

PH Finalizes $527-M Military Aircraft Contracts

MANILA, Philippines – The Philippine government has finally signed the twin contracts worth $527 million to purchase modern military aircraft as part of its long-delayed modernization program of its armed forces.

The first contracts will see the purchase of 12 FA-50 fighter jets from Korea Aerospace Industries (KAI) worth $421.1 million (P18.9 billion) to be delivered in the next three years, according to the agreement signed by representatives from Philippines defense department led by Armed Forces chief Emmanuel Bautista and the South Korean government.

The second agreement that was finalized was the $106 million (P4.8 billion) contract with Canadian Commercial Corp. to build four Bell 412 military helicopters. (Click here to read more)

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