Philippines signs P28-billion contract for 2 Navy warships

Defense Secretary Delfin Lorenzana on Tuesday signed a P28-billion contract with South Korean company Hyundai Heavy Industries for the acquisition of two modern corvettes for the Philippine Navy.

In a ceremonial signing, Lorenzana said he was pleased that the country was able to meet its target to have the contract for the Philippine Navy Corvette Lot 1 Acquisition Project signed before 2022.

“Despite delays due to the pandemic, we are finally signing the contract, the last phase of the procurement process,” he said.

“For a total approved budget of P28 billion, this project will give the Philippine Navy two modern corvettes that are capable of anti-ship, anti-submarine and anti-air warfare missions,” he added.

According to Lorenzana, the two corvettes will serve as backstop to the two Jose Rizal class frigates.

For ease of maintenance and repairs, Lorenzana noted that all naval platforms have a common shipbuilder, Hyundai Heavy Industries, where the country also bought the two frigates.

This will also ensure commonality and interoperability with existing assets, he added.

“I commend, therefore, the Hyundai Heavy Industries for being an active and reliable partner in the modernization program of the Philippine Navy,” he said.

“Like the two frigates which were built in record time, we expect that this acquisition project will likewise run smoothly,” he added. — BM, GMA News