Listen LIVE 5 p.m. for Air Force tanker announcement

Thursday - 2/24/2011, 3:44pm EST

Updated at 5:30 p.m.: Boeing has been awarded the contract.

Could there FINALLY be closure on the long-delayed KC-X tanker replacement contract? The Air Force is expected to announce its choice for a $35 billion contract to build 179 flying tankers today at 5:10 p.m.

Two companies vying for the contract are Chicago-based Boeing Co. and European Aeronautic Defence and Space Company.

The Air Force has been attempting to contract for a new refueling tanker to replace the KC-135 since 2002, but Congressional interference and allegations of misconduct has delayed the contract.

This story is part of Federal News Radio's daily DoD Report. For more defense news, click here.