(MENAFN - AFP) Swedish defence and security group Saab announced on Thursday finalisation of a contract for the supply of 36 Gripen NG fighter jets to Brazil in a multi-billion deal.
The agreement includes industrial cooperation and technology transfer.
The value of the deal, first announced in December last year, amounted to 39.3 billion kronor (4.25 billion euros, $5.39 billion).
"We are proud to stand side-by-side with Brazil in this important programme," Saab chairman Marcus Wallenberg said in a statement.
Brazil and Sweden will be the first countries to use the new generation of Gripen fighter jets.
"The contract with Brazil validates Gripen as the most capable and modern fighter system on the market," chief executive Haakan Buskhe said.
The contract, which includes 28 single-seat and eight two-seat aircraft, is expected to come into effect during the first half of 2015.
The fighter jets will be delivered between 2019 and 2024.
Last May, Swiss voters rejected a deal proposed by their government to buy 22 Gripen of a different model.
This new contract secures "Gripen's industrial and operational future into the 2050 timeframe," the company said.
Gripen fighter jets are currently used by the Swedish, Czech, Hungarian, South African and Thai aviations.