UPDATE 1-Turkey's Tusas says to modernise Pakistan's F-16s

*Says deal worth around $75 million

* Project to start in Oct 2010, take 46 months (Adds details, background)

ANKARA, June 29 (Reuters) - Turkish defence company Tusas said on Monday it would modernise 42 of Pakistan's F-16 jet fleet in a deal it said would be worth around $75 million.

The project will begin in Oct 2010 in Tusas facilities and will take 46 months, the company said in a written statement sent to Reuters.

Tusas has modernised Jordan's F-16 fighters in a deal signed in 2006.

NATO member Turkey and Pakistan have close military and strategic ties.

Tusas signed a $500 million agreement with Airbus (EAD.PA) to produce parts for A350 planes. (Reporting by Zerin Elci; Editing by Hans Peters)