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Sunday, 9 February 2020

Egyptian navy close to purchasing Italian warships

Egypt’s navy is “very close” to a EUR 2.4 bn purchase of a pair of European Multi-Purpose Frigate (FREMM) warships from Italian shipbuilder Fincantieri, French newspaper La Tribune reported. The vessels may be purchased for an estimated cost of EUR 1.2 bn, with Italian state bank CDP due to issue an export financing loan of up to EUR 500 mn to support the purchase.

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