News

Egypt, France Sign Mistral Deal Worth 950 Million Euros

Egypt, France Sign Mistral Deal Worth 950 Million Euros

Egyptian President Abdel Fattah El-Sisi with the French and Egyptian Prime Ministers and Ministers of Defence at the deal-signing ceremony. PHOTO: Egypt's State Information Service
Egyptian President Abdel Fattah El-Sisi with the French and Egyptian Prime Ministers and Ministers of Defence at the deal-signing ceremony. PHOTO: Egypt’s State Information Service

Egypt signed a deal worth 950 million euros  to buy two Mistral warships from France on Saturday, the two countries’ prime ministers announced at a joint press conference following the deal signing.

French Prime Minister Manuel Valls, French Minister of Defence Jean-Yves Le Drian and their Egyptian counterparts, Sherif Ismail and Sedky Sobhy attended the deal-signing ceremony, along with Egyptian president Abdel Fattah El Sisi and 63 French diplomats and journalists.

France had originally built the warships for Russia in a deal that would have cost the latter 1.2 billion euros, but France cancelled the sale in 2014 after the Russia’s role in the Ukraine crisis.

French President François Hollande announced in September that he had agreed to a sales deal with his Egyptian counterpart despite the significant drop in pricing.

Saudi Arabia is expected to contribute a “significant” portion of the financing of the Mistral ships, which are set to arrive in Egypt in March of next year. According to AFP, the contract stipulates that 400 Egyptian sailors will receive four months of training in France.

In addition to signing the Mistral contract, the two countries signed a variety of other deals, including ones related to slum development and establishing a photovoltaic power station, Aswat Masriya reported.

Ismail later said in a statement that Egypt looks forward to further developing economic ties with France and boosting French tourism in Egypt.

Cairo is Valls’ first stop in a Middle East tour to discuss regional conflicts and boost economic ties. He is set to meet with the grand imam of Cairo’s Al Azhar University, Sheikh Ahmad al-Tayeb on Sunday before traveling to Jordan and Saudi Arabia.

The Palestinian Refugees of Fadel's Island: Living on the Margin in Egypt
Social Media Banned as Turkey Terror Death Toll Reaches 86

Subscribe to our newsletter


News

More in News

sticlute-de-parfum-2

Import Tariffs on 320 Goods Increased by up to 60 Percent in Egypt

Aswat MasriyaDecember 5, 2016
Note: Egyptian Streets cannot independently verify the veracity of any images in this article.

‘Disgusting Video’ of Ketchup Production Called Misleading by Heinz Egypt

Egyptian StreetsDecember 4, 2016
squashwomen

Egypt’s Women Make Squash History Taking Top Three Spots in World Ranking

Egyptian StreetsDecember 4, 2016
Protesters gather to demonstrate Egypt's decision to declare two Red Sea islands as Saudi Arabian. Khaled Ali, pictured, brought a case to the Administrative Court against the decision. Credit: Belal Darder

Egypt’s Constitutional Court Rules Against Interior Minister Authority to Ban Protests

Aya NaderDecember 3, 2016
pablo-4

Egypt’s Foreign Minister in ‘First Meeting’ Between Arab Official and US Vice President-elect

Egyptian StreetsDecember 1, 2016
A street in Luxor.

UK Court Allows British Woman to Adopt Girl ‘Found in a Box’ in Egypt’s Luxor

Egyptian StreetsNovember 30, 2016
egypt parliament

Egypt’s Parliament Passes Controversial NGO Law

Aswat MasriyaNovember 30, 2016
The arrival hall is empty at the Sharm el-Sheikh Airport in south Sinai, Egypt, Monday. Airbus executives say they are confident in the safety of the A321 that crashed Oct. 31 in Egypt's Sinai Peninsula, killing all 224 people on board. Photo: AP

UN World Tourism Organization Urges UK to Return Flights to Sharm El-Sheikh

Egyptian StreetsNovember 29, 2016
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.