Egypt To Sign Rafale Fighter Deal On February 16: Hollande

The French President Francois Hollande confirmed the conclusion of the first contract of sale of 24 Rafale fighter aircraft to Egypt, which will be signed on February 16, the Elysee Palace said in a statement Thursday.

"The Egyptian authorities have let me know today of their intention to acquire 24 Rafale combat aircraft and a multi-mission frigate and associated equipment. This equipment will allow Egypt to increase its security and play a dull role in the service of regional stability," Hollande said.

France's Defense Minister Jean-Yves Le Drian will sign the deal on behalf of France on February 16 in Cairo, the statement said.

Earlier in the day, French media reported that Paris and Cairo had signed the deal of sale of 24 Rafale jets, worth 5 billion euros ($6 million). The talks regarding the purchase of the aircraft reportedly started last October.

Egypt has decided to boost its air forces with Rafale fighter jets amid the intense conflict raging across neighboring Libya. Since the overthrow of long-standing leader Muammar Gaddafi in 2011, a number of militia groups have been involved in a power struggle in Libya. Two de-facto governments are currently operating in the country.