Hyundai Heavy Bags 370 Billion-Won Frigate Order from Philippines
Hyundai Heavy Industries Co.
Seoul - QNA
Hyundai Heavy Industries Co., a major shipyard in South Korea, said Monday that it has secured a 370 billion-won about (US$325 million) deal from the Philippines to build two frigates.
Under the deal, Hyundai Heavy will build the 2,600-ton ships, 107 meters long and 12 meters wide each, by 2020, the company said.
Hyundai Heavy was picked as a preferred bidder in August this year, and had been negotiating with the Philippines' defense ministry, according to South Korea's (Yonhap) News Agency.
The vessels will have a maximum speed of 25 knots. In terms of armament, the ships will carry a naval gun, anti-surface missile launcher and torpedo, and other arms control systems, Hyundai Heavy said.
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