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

Shubra District Head Suspended After Deadly House Collapse

Nour EltiganiSeptember 23, 2018

Egypt Appeals Court Releases Mubarak Sons, Dismisses Judge

Egyptian StreetsSeptember 22, 2018

EU Looks to Egypt for Help With Mediterranean Migration

Mirna AbdulaalSeptember 21, 2018

Egypt to Receive 56,000 Tank rounds as Part of $99 Mn Arms Deal with US

Taha Mahmoud SakrSeptember 19, 2018

Egypt Planning to Establish Anti-Cancer Drug Factory

Mirna AbdulaalSeptember 18, 2018

Sandstone Sphinx Statue Discovered in Kom Ombo

Sara AhmedSeptember 16, 2018

UN Adopts Egyptian Resolution On Preventing Sexual Abuse

Mirna AbdulaalSeptember 16, 2018

Egypt Seeks to Penalize Water Misuse

Sara AhmedSeptember 16, 2018
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.

© 2017 Egyptian Streets. All Rights Reserved.