May 1 (UPI) — Republic of Korea is set to receive 36 AH-64E Apache helicopters in a new agreement between the U.S. Army and Boeing.
The deal, announced Monday by the Department of Defense, is valued at more than $96.3 million under the terms of a hybrid cost, cost-plus-fixed-fee and firm-fixed-price foreign military sale contract for the attack helicopters, the Pentagon said in a press release.
Work on the contract will occur in Mesa, Ariz., and is expected to be complete in April 2023.
More than $9.4 million will be obligated to Boeing at time of award.
The funds will be allocated from fiscal 2010 foreign military sales funds, according to the U.S. Army Contracting Command.