Saudi Arabia, France finalizing $12 billion in deals for ships, helicopters, nuclear reactors

Saudi and French officials are finalizing negotiations on contracts for patrol ships, border guard helicopters, planes and two possible nuclear reactors worth more than $12 billion.

The announcement comes during a high-level Saudi visit to France on Wednesday, as Saudi Arabia is leading a military campaign against extremists in neighboring Yemen.

French Foreign Minister Laurent Fabius said Wednesday that the two have agreed to sell French patrol boats "to enhance the capability of the Saudi Coast Guard, which is today facing growing threats."

A French government statement says the two countries are finalizing contracts for 23 helicopters for the Saudi Interior Ministry, 50 Airbus jets, and a study for two new-generation nuclear reactors, and nuclear waste and nuclear safety training.