The Turkish government is about to finalize its efforts to ink two major naval export deals totaling between $1.5 billion and $2 billion, official sources said on condition of strict anonymity.

“This will be the largest ever export deal for Turkey’s local industry,” one source said.

An official from Turkey’s procurement office, the Undersecretariat for Defense Industries (SSM in its Turkish acronym) did not comment, saying that it would be up to the government when and how to announce such big deals. But a senior shipyard executive confirmed “matured” talks with both countries. “The government will announce it when it thinks is the good time to announce.”

The official source said one of the deals, with Saudi Arabia, would involve the sale of at least two I-class (Istanbul-class) MILGEM corvettes or frigates. Industry sources said each vessel, coming in at 3-3.5 tons, would cost between $300 million and $500 million. […]