A MASSIVE £4.43 billion order for 72 Eurofighter Typhoon warplanes from Hampshire defence giant BAE Systems has been placed by Saudi Arabia.

The true value of the order over the plane's 20-year lifetime is estimated at £20 billion - one of the largest ever defence export orders won by a British company.

It's a major boost for the region, with companies across Hampshire involved in the fighter's production and BAE employing more than 3,000 people here.

Unions welcomed the announcement.

Unite's national officer Bernie Hamilton said: "This is excellent news for the aerospace industry and the wider UK economy."

It is understood the deal was brokered by the Government with the Saudi King Abdullah, who is due to visit Britain next month, finally signing it last week.

The deal was nearly shot down by a Serious Fraud Office investigation into allegations that Saudi Arabia took bribes from BAE as part of a military aircraft deal struck more than 20 years ago.

But the probe into the £43bn Al-Yamamah deal was controversially dropped last year.

Anti-corruption campaigners said that the Saudis threatened to pull the deal if the inquiry went ahead.

BAE said the deal was an "important milestone in its strategy to continue to develop Saudi Arabia as a key home market with substantial employment and investment in future in-kingdom industrial capability".

Eurofighter, pictured, is a pan- European project, and profits from the Saudi deal will go to the consortium which includes BAE, the Franco- German group EADS and Italy's Finmeccanica.

The contract will be called Project Salam, or al-Salam, which translates as "peace".

A further order for armaments and weapons systems estimated to be worth £5 billion, will supplant the initial contract.

The Saudis are expected to spend a further £10 billion on maintenance, training and support for the aircraft.

A BAE spokesman said: "BAE welcomes this important milestone in its strategy to continue to develop Saudi Arabia as a key home market with substantial employment and investment in future in-kingdom industrial capability."