Greece's defence minister on Wednesday dismissed reports that his country would spend 10 billion euros on an arms overhaul announced at the weekend.

What appears to be Greece's most ambitious military overhaul in nearly two decades was unveiled as it is engaged in a growing stand-off with Turkey over hydrocarbon resources and naval influence in the waters off their coasts.

"It's not a 10-billion-euro spending spree, let me make that very clear," Nikos Panagiotopoulos told an Economist conference in Athens, responding to press reports about the cost of purchases.

"It's a series of very calculated, prioritised, smart moves addressing our needs to the maximum.

"We have to be very selective... we will not do it without limits... it will take place over time," he said.

Prime Minister Kyriakos Mitsotakis on Saturday announced a major arms programme involving warplanes, frigates, helicopters and 15,000 full-time soldiers to be hired over the next five years.

Mitsotakis said Greece would acquire 18 French-made Rafale warplanes, four multi-purpose frigates and four navy helicopters.

New anti-tank weapons, navy torpedoes and airforce missiles will be secured, Mitsotakis said.

The initiative, which includes upgrades of another existing four frigates, is also designed to create thousands of jobs by pouring resources into the national arms industry, he said.

The prime minister later clarified that 12 of the Rafales would be pre-used, and did not put a price tag on the overall programme.

The first Rafales will likely be delivered in 2021, while offers will be invited for the frigates which have a 10-year delivery horizon, he said.

Athens was "engaged in discussions with potential strategic partners" for Greece's state defence industries including airspace and shipyards, defence minister Panagiotopoulos said on Wednesday.

The bitter row between NATO allies Greece and Turkey has roped in other European powers, raising concern about a more widespread escalation.

Mitsotakis is believed to have hammered out the programme announced on Saturday after talks with French President Emmanuel Macron during a summit of southern European leaders in Corsica last week.

In contrast to other EU and NATO allies, France has strongly backed Greece in its burgeoning showdown with Turkey, as well as Cyprus.

Related Links
All About Oil and Gas News at OilGasDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Tanzania, Uganda, ink deal on $3.5b oil pipeline project
Dar Es Salaam (AFP) Sept 13, 2020
Tanzania and Uganda signed an agreement Sunday to commence construction on a 1,445-kilometre (900 mile) oil pipeline through East Africa that conservation groups say threatens livelihoods and fragile ecosytems. The project focuses on oilfields in landlocked Uganda discovered in 2006 and proposes pumping the crude to the coast via a pipeline across Tanzania at an estimated cost of $3.5 billion. The multi-national plan is led by French petroleum giant Total in partnership with China's CNOOC and st ... read more