Saab signs $3.6 billion Gripen fighter deal with Colombia

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(Reuters) -Swedish defense firm Saab said on Friday it has signed a contract worth 3.1 billion euros ($3.62 billion) with the Colombian government to deliver 17 Gripen fighter jets in the next five years.

Saab will deliver 15 Gripen E single-seat and two Gripen F dual-seat fighter jets to Colombia and support military and civilian projects under two offset agreements focused on defense, technology and infrastructure.

The Gripen is a fourth-generation, single-engine supersonic fighter jet built for versatility. Classified as a multi-role aircraft, it is capable of executing air-to-air combat, precision bombing and reconnaissance missions. The jet is widely regarded as a cost-effective alternative to pricier fifth-generation fighters like the F-35.

The commander of Colombia's Aerospace Force, Carlos Silva, said in April that the country planned to buy 16 to 24 Gripens. Colombia had a choice between the JAS 39 Gripen, French Dassault-made Rafale (NYSE: AM), and U.S. firm Lockheed Martin's F-16 (NYSE: LMT) jets.

Neighbor Brazil has already purchased 36 JAS 39 Gripen jets from SAAB and built an assembly plant for the aircraft in the country in partnership with SAAB.

($1 = 0.8575 euros)

(Reporting by Mrinmay Dey in Bengaluru; Editing by Tasim Zahid and Leslie Adler)

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