Hanwha Ocean clinches $505 mil. frigate project from Thai Navy
Hanwha Ocean has won a 680 billion-won ($505.17 million) contract to build one frigate for the Royal Thai Navy, Thai media reports and industry officials said Tuesday. The procurement includes value-added tax, other applicable taxes, transport and all expenses, Thai media reported. The size of the contract could expand to around 4 trillion won should the Korean shipbuilder win follow-up orders,…
Hanwha Ocean has won a contract to build one frigate for the Royal Thai Navy. The deal is worth 680 billion won, which is equivalent to $505.17 million. This amount includes value-added tax, other applicable taxes, transport, and all expenses.
The contract's value could potentially expand to around 4 trillion won if Hanwha Ocean secures follow-up orders, according to industry officials.
Hanwha Ocean previously secured a contract in 2013 to deliver a 3,600-ton frigate to Thailand, completing the project in 2018.
Brief written by urgent.news from The Korea Times, The Korea Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
