⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

Thailand to acquire 120 U.S. armored vehicles

Published 08/28/2019, 05:50 AM
Updated 08/28/2019, 05:56 AM
Thailand to acquire 120 U.S. armored vehicles
SYK
-

BANGKOK (Reuters) - Thailand's military plans to acquire 120 American-made armored vehicles by 2020, with the first batch of 10 arriving next month, a Thai defense ministry source told Reuters on Wednesday.

The United States curbed military aid to Thailand following a 2014 army coup, but ties are improving after disputed elections this year that officially restored civilian rule under a government led by former junta leader Prayuth Chan-ocha.

Army chief General Apirat Kongsompong told reporters that Thailand would receive 70 U.S. made armored infantry carrier vehicles by the end of the year and 50 more next year, but did not give the value of the deal.

"The first delivery will consist of 10 vehicles and by the end of the year there will be 70 vehicles," Apirat said.

"There will be 50 vehicle in the next lot."

He said the armored vehicles would be deployed at a base in Chachoengsao, south of the capital of Bangkok.

U.S. embassy officials were not immediately available to comment on the army chief's remarks.

A defense ministry source told Reuters that Thailand paid for 47 vehicles and the U.S. would supply 23 free in this year's purchase, while 50 more will be bought next year. The U.S. will also help the Thai army in the maintenance of the vehicles.

The source declined to be identified because he was not authorized to speak to the media.

In July, the U.S. State Department said it had approved a government-to-government Foreign Military Sales deal for 60 Stryker (NYSE:SYK) armored vehicles and equipment, at an estimated cost of $175 million.

Under junta rule, Thailand bought tanks and infantry fighting vehicles from China to replace old U.S. models, as well as planning to set up a joint center with China to produce and maintain military gear, as relations cooled between Washington and its oldest ally in Southeast Asia after the 2014 coup.

The United States remains an important ally for Thailand.

Next week, Thailand will host the opening of the first-ever maritime drill between the navies of the United States and the Association of Southeast Asian Nations (ASEAN) and the 11th Indo-Pacific army chief conference on Sept 9.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.