Greece and Israel have reportedly signed a historic 20-year contract worth 1.65 billion USD for the construction and operation of a new academy for the former's Hellenic Air Force (HAF), according to an Israeli defense ministry announcement that was reported by Reuters.
The agreement comes after major Israel-based contractor Elbit Systems submitted a winning bid in an international tender for the new academy and air force training center, which came in early January.
The agreement is 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.
Elbit will provide maintenance and know-how of a new fleet of M-346 training planes for the HAF over the next 20 years, with the new academy near the extreme southwestern city of Kalamata.
Currently the HAF flies M-346 and T-6s.