South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has signed a contract with the Philippine Department of National Defense (DND) to build two new corvettes.
As informed, the shipbuilding company will build two corvettes worth PHP 28 billion ($554.8 million).
EARLIER | The Department of National Defense signed a contract agreement with Hyundai Heavy Industries (HHI) for the acquisition of two (2) brand new corvettes worth PHP 28 Billion for the Philippine Navy in a virtual signing ceremony. #OneDefenseTeamPH ?? pic.twitter.com/NiQ7Kepd8R
The ships will measure 116 meters in length and 14.8 meters in width, with a displacement of 3,200 tonnes. They will be able to achieve a maximum speed of 25 knots with a travel range of 4,500 nautical miles.
“I feel proud of the Republic of the Philippines and the Republic of Korea Defense industry cooperation getting stronger day by day, and HHI will continue to cooperate as a reliable partner in the Armed Forces of the Philippine Modernization program ,” Sanghoon Nam of COO of Naval and Special Ship business unit of HHI commented.
Recently, the Philippine Navy revealed that it has secured funding to buy two corvettes under the navy’s Corvette Acquisition Program (CAP).
Two modern corvettes, which will be equipped with a variety of sensors, will be capable of anti-ship, anti-submarine, and anti-air warfare missions, according to the navy.
The acquisition of these two missile-armed corvettes was done to backstop the two frigates acquired from HHI.
“They are smaller than the (two Jose Rizal-class frigates) but will also be sufficiently armed,” Department of National Defense Secretary Delfin Lorenzana said when asked for a description of the ships.
Philippine Navy’s second Jose Rizal-class guided-missile frigate BRP Antonio Luna was delivered at the beginning of the year.