The State Department has approved the proposed sale of an anti-tank weapon system and related equipment to the Egyptian government through a potential $691 million foreign military sales contract.
Egypt is seeking to buy 5,070 units of the Raytheon Technologies-built (NYSE: RTX) TOW 2A radio frequency missile technology along with spare parts, technical manuals, test equipment and training services, the Defense Security Cooperation Agency said Thursday.
DSCA said the foreign country wants to replenish its stockpile and enhance counterterrorism and border security operations.
The agency does not expect the FMS proposal to affect basic military balance in the region and noted that the implementation of the transaction will not require any additional deployment of government or contractor representatives to Egypt.
Raytheon’s missiles and defense business has supplied more than 700,000 TOW missile systems to the U.S. military and allied troops, according to the company.