Last week, just before America broke for the long weekend, the Defense Security Cooperation Agency announced (link opens a PDF) that it has notified Congress of plans to make a "foreign military sale" to Qatar of 500 FGM-148 Javelin Guided Missiles. Including the cost of accessories, spare parts, training, and logistical support, the deal is estimated to be worth $122 million to the weapons' manufacturers, Raytheon and Lockheed Martin .
Justifying the sale, DSCA advised Congress that "this proposed sale ... [will] improve the security of an important partner which has been, and continues to be, a force for political stability and economic progress in the Middle East." Importantly, DSCA argued, the sale will also "provide greater security for [Qatar's] critical oil and natural gas infrastructure."
At the same time, the agency assured Congress that the sale of these missiles, designed primarily as an anti-tank weapon but also useful for attacking buildings and even low-flying helicopters, "will not alter the basic military balance in the region."
At this time, the sale is still considered "potential" and has not yet been concluded.
The article Qatar Orders 500 U.S. Javelin Anti-Tank Missiles originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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