Boeing Beats Russia for Indian Helicopter Contract
On Monday, Boeing (NYS: BA) extended an impressive string of victories in competitions to upgrade the Indian military, winning a $1.4 billion contract to supply 15 CH-47F Chinook helicopters to the Asian nation.
In so doing, Boeing beat out a competing bid by Russia's OboronProm (literally "Defense Industry") to sell the Indians new Mi-26 transport helicopters, according to a report in Defense News. India had invited bids from both companies to replace the country's existing fleet of two dozen, mostly inoperable Mi-26 choppers.
The news follows up October's report that Boeing will sell India 22 AH-64D Apache attack helicopters, in a deal valued at $1.3 billion. Prior to that deal, the company had also signed on to provide the Indian military with 10 C-17 Globemaster III transportation aircraft. And before that, Boeing won a $2.1 billion deal to supply P-8I subhunting aircraft.
As for this latest contract, Boeing is expected to sign a contract with India's Ministry of Defense in March, with delivery of the 15 transport helicopters to be completed within 54 months thereafter.
The article Boeing Beats Russia for Indian Helicopter Contract originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.