CAIRO, Feb. 13 (Xinhua) -- Egypt is set to produce its first fighter and drone "in cooperation with a foreign side", official MENA news agency reported on Saturday.
"Talks and negotiations are underway about a project to produce Egypt's first fighter and drone plane," MENA quoted Lt. General Hamdy Waheba, Chairman of Arab Organization for Industrialization (AOI), Egypt's state-owned company specialized in producing civilian goods as well as military products.
The official did not name the foreign party which will take a hand at the process.
"Local production of the aircraft will meet the demand of the Egyptian Armed Forces, as it will be sold at a very competitive price," Waheba added.
The AOI was established in 1975 with the aim of building an advanced technology industrial base.
Egypt is one the major Arab countries dependent on importing military fighters from the United States and Russia.