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Egypt close to $1.12bn French arms purchases

CAIRO, March 22, 2016

Egypt is preparing to buy French warships and a military satellite in deals worth more than €1 billion ($1.12 billion), La Tribune newspaper reported on Tuesday.

The four naval vessels to be built by French naval shipyard DCNS include two Gowind corvettes, the newspaper reported, without citing sources.

The military satellite would be supplied jointly by Airbus Space Systems, part of Airbus Group, and Thales Alenia Space, owned by French arms firm Thales and Italy's Finmeccanica, recently renamed Leonardo.

Thales also owns 35 per cent of the DCNS shipyard.

None of the companies agreed to comment.

The deals are expected to be signed during a visit to Egypt by French President Francois Hollande on April 18.

Egypt had originally been reported to be in talks to buy two French military satellites. - Reuters




Tags: | Egypt | arms | DCNS |

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