November 6, 2012
On Monday, Boeing (NYSE: 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.