French President Francois Hollande on Thursday confirmed the sale of 24 Rafale fighter jets and related military equipments to Egypt, the first oversea contract of the Dassault Aviation-built planes.

"The Egyptian authorities have just let me know their intention of acquiring 24 Rafale planes, a multi-mission frigate as well as related equipment," Hollande said.

"These equipments will allow Egypt to raise its security and play a full role to ensure the regional stability," he added.

In a statement issued by his office, the president announced the accord would be signed by Defense Minister Jean-Yves Le Drian in Cairo on Monday.

Egypt deal is France's first agreement to export the home-made fighters which failed to conquer foreign markets due to high prices.

The Rafale, manufactured by French company Dassault Aviation, is a twin-engine delta-wing multi-role jet fighter. Since it was introduced in 2000, it only serves in the French navy.

Due to its high price, the French aircraft faces competition from Boeing's F/A-18 Super Hornet and Gripen NG from Sweden's Saab. Endit

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