May 26, 2016 / 6:31 AM / a year ago

S. Korea picks GE as preferred bidder for homegrown fighter jet engines

SEOUL, May 26 (Reuters) - General Electric Co has been chosen as the preferred bidder to supply engines for South Korea's KF-X homegrown fighter jets, the country's arms procurement agency said, beating Eurojet in what could be an estimated $3.5 billion deal.

Korea Aerospace Industries Ltd, which plans to develop and produce 170 jets initially, has picked the F414-GE-400 engines produced by GE Aviation over the Eurojet EJ200, made by a consortium that includes European firms Rolls-Royce Holdings PLC and MTU Aero Engines AG .

The decision was finalised by the Defense Acquisition Program Administration on Thursday. ($1 = 1,182.7500 won) (Reporting by Hyunjoo Jin in SEOUL and Siva Govindasamy in SINGAPORE; Editing by Biju Dwarakanath)

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