Greece and Israel will sign a historic 20-year defense-related contract worth 1.68 billion euros for the construction and operation of a new academy for the former's Hellenic Air Force.
The agreement comes after major Israel-based contractor Elbit Systems submitted the winning bid in an international tender for the new academy and air force training center.
According to a Tweet on the official account of the Israeli defense ministry, "...the agreement, which will be signed by both defense ministries also includes the procurement of ten M-346 aircraft & maintenance of T-6 aircraft, as well as the provision of simulators, training & logistic support."
In a statement, Israeli DM Benny Gantz referred to an agreement that reflects the excellent and developing relations "we have with Greece. It is a long term partnership that will serve the interests of both countries."
The looming agreement, if finalized, will be the biggest ever deal between Greece and Israel in the defense sector.
The two countries have significantly boosted bilateral cooperation in the defense sector over the past few years.