PARIS
France plans to seal a €5 billion military deal with Egypt that includes the sale of 24 Rafale fighter jets, a naval frigate and missiles, the French president's office said Thursday.
"Egyptian authorities just let me know today of their intention to buy 24 Rafale combat planes and a multi-mission frigate along with associated equipment," French President Francois Hollande's office said in a statement.
French Defense Minister Jean-Yves Le Drian is due to travel to Cairo Monday to sign the deal.
"This equipment will allow Egypt to increase its security and play its full role in regional stability," the statement added.
Eric Trappier, Chief Executive Officer of Dassault Aviation, said France would start delivering the jets to Egypt this year.
"The delivery of the first three aircraft to Cairo will be this year... there will be three more later," Trappier told French TV BFMTV Friday.
He added that the negotiations for the deal took only three months.
This will be the first time that Dassault Aviation would export the Rafale fighter jets.
Egypt is upgrading its military capacity. Last year, Egypt signed a $3.5-billion arms deal with Russia.
