Report: US, Taiwan Readying $600M Lockheed F-16 Upgrade Deal

The U.S. and Taiwan are preparing to sign a contract that covers $600 million in upgrades to Taiwan’s F-16 fleet, Defense News reports.

According to the report, the upgrades include new radars for Taiwan’s Lockheed Martin-made (NYSE: LMT) F-16 jets.

Contract signing may take place before July 26 and the upgrades would take nearly 12 years to complete, the report said.

Taiwan originally requested 66 new F-16 jets and the House approved a measure in May to approve such a sale.

The country’s defense ministry said jets will have radars for detecting Chinese stealth aircraft and may also contain precision munitions, the report said.

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