Brazil To Invest $5 Billion In Gripen NG Project

Brazil is likely to invest $5 billion in the Gripen NG project that includes the procurement of 36 Gripen NG fighter aircraft to equip the Brazilian Air Force.

The NG project has already secured $413.2 million as part of the 2017 budget. The delivery of the aircraft will begin in 2019 and will continue throughout 2024, Airforce-Technology reported Tuesday.

"The resources are guaranteed for the project to follow its schedule, which is going very well.” Brazilian Defense Minister Raul Jungmann said.

Saab and Embraer Defense & Security have recently inaugurated the Gripen Design and Development Network (GDDN) in Brazil. The GDDN is the first in the 60 offset industrial, technological or commercial compensation projects valued at $9bn.

Development, testing and verification projects, as well as the storage of support systems for the Gripen NG, will be carried out at GDDN.

Early next year, the GDDN is anticipated to receive half of the total of 300 engineers and technicians planned for when it is in full operation. Brazil will send 350 engineers to Sweden by 2024.

Additionally, the air force's multi-mission aircraft, KC-390, is currently in the flight test phase.