
Greece has approved the purchase of a new multi-layered air defense and anti-drone system, as well as the modernization of 38 F-16 fighter jets.
The decision was made by a parliamentary commission, while the total cost of the project is estimated at around 4 billion euros, according to two sources cited by Reuters.
A large part of the missile system is expected to be supplied by Israel. The system, called "Achilles Shield", is expected to cost around 3 billion euros and aims to create a shield against missiles and drones.
At the same closed-door meeting, the commission also approved the modernization of 38 F-16 Block 50 aircraft, dating from the 1990s. The aircraft will be updated to the more advanced "Viper" version, at an estimated cost of around 1 billion euros.
Greece currently has around 150 F-16 aircraft in its fleet and has already modernized around 40 of them.
The Greek government has announced that it intends to invest around 28 billion euros by 2036 to modernize its armed forces. The plan comes as the country tries to strengthen its military capabilities after the 2009-2018 debt crisis and keep pace with its historical regional rival, Turkey.
The project must also receive approval from the highest decision-making body for foreign and defense affairs in Greece, KYSEA.
The parliamentary committee also approved the modernization of four aging MEKO 200 frigates and a maintenance agreement for C-29J military transport aircraft.