Philippines signs $667m military aircraft contracts amid territorial dispute
Published on Mar 28, 2014 8:27 PM
MANILA (AFP) - The Philippines on Friday signed agreements to buy US$528 million (S$667 million) worth of military aircraft from South Korea and Canada amid ongoing territorial disputes with China.
"After more than four decades of stagnancy in its dream of improving its capability, our air force has found a promise of new life with the realisation of our (military) modernisation programme," Philippine Defence Secretary Voltaire Gazmin said.
Korea Aerospace Industries will deliver 12 FA-50 jets worth 18.9 billion pesos (S$530 million) in just over three years under a contract agreed by Philippine defence officials and South Korean government representatives.
The South-east Asian country also completed a 4.8 billion-peso contract with Canadian Commercial Corp. and Canada's Bell Helicopters to build eight helicopters for the military.
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