4/18, 12:44 PM (Source: TeleTrader)
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Greece, Israel sign $1.6B defense agreement

The Israeli Ministry of Defense announced on Sunday a defense agreement worth approximately $1.6 billion with Greece. The deal is the largest of its kind signed between the two countries.

According to the ministry, the agreement includes the establishment of an international flight training center for the Hellenic Air Force, which will be established by Israel's aerospace and defense company Elbit Systems Ltd. "Within the framework of the agreement, Elbit Systems will provide kits to upgrade and operate the Hellenic Air Force's T-6 aircraft. Elbit will also provide training, simulators and logistical support," the ministry said.

Breaking the News / DJ