Singapore plans to buy four F-35 jets, with option to buy eight more

SINGAPORE (Reuters) - Singapore plans to buy an initial four F-35 fighter jets from Lockheed Martin Corp, with an option to purchase eight more, as it looks to replace its aging F-16 fleet, the city-state's defense minister said on Friday.

Ng Eng Hen said in parliament that the ministry of defense will issue a letter of request to the United States regarding the purchase, which must be approved by the U.S. Congress.

With Southeast Asia's largest defense budget, the wealthy city-state is a key prize for global arms companies as it looks to invest in new technology and upgrade its equipment.

Ng added the exact price to be paid for the jets had not been finalised, but that the current unit price for an F-35 ranges from $90 million to $115 million.

Lockheed did not respond to a request for comment.

Singapore's fleet of around 60 F-16 jets, which first entered service in 1998, will be retired soon after 2030.

A defense ministry official confirmed Ng's comments, first reported by local media.