U.S. State Dept approves sale of F-35B jets to Singapore worth $2.75 bln - agency

The U.S. State Department has approved the sale of up to 12 F-35B fighter jets and related equipment to Singapore at an estimated cost of $2.75 billion, pending approval from Congress, the Defense Security Cooperation Agency said on Friday.

The Asian city-state said last year it planned to buy an initial four F-35 fighter jets from Lockheed Martin Corp, with an option for eight more, as it looks to replace its ageing F-16 fleet.

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