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Otokar signs $1.47 billion armored vehicle export contract
Otokar signed a $1,472,080,360 export contract on Thursday covering wheeled armored vehicles and integrated logistics support services. The contract will take effect after the required official approvals are obtained, procedures related to letters of guarantee are completed and the advance payment is received; deliveries will begin in 2027.
Otokar signed a $1,472,080,360 export contract covering the supply of wheeled armored vehicles and integrated logistics support services.
The company disclosed the contract on Türkiye’s Public Disclosure Platform. The agreement includes different types of wheeled armored vehicles as well as integrated logistics support services.
Three conditions must be met for the contract to take effect
The contract will take effect after the required official approvals are obtained, procedures related to letters of guarantee are completed and the advance payment is received.
Otokar will provide letters of guarantee totaling $441.6 million to secure its obligations under the contract and the advance payment.
Deliveries will begin in 2027
Vehicle deliveries are expected to begin in 2027 and be completed in batches over three years. The contract will remain in force for seven years.
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