Egypt to buy military satellite

Egypt has been set to sign $1.12 billion worth of deals with France in mid-April to purchase warships and a military satellite.

The deals will be signed during French President Francois Hollande’s upcoming visit on April 18.

One of the expected contracts will see DCNS build four naval vessels, including two Gowind corvettes. DCNS, which is mostly owned by the French state, has already sold four small Gowinds to Cairo in 2014.

As part of another deal, Airbus Space Systems and Thales will jointly supply Cairo with a military telecommunication satellite.