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,…
Korean shipbuilder Hanwha Ocean Co. has been chosen as the preferred bidder for a frigate project by the Royal Thai Navy, according to a regulatory filing. The project involves constructing a 4,000-ton-class frigate, along with associated equipment and comprehensive maintenance and logistics support. The total value of the project is set at 16.73 billion baht, or approximately $509 million.
Hanwha Ocean plans to engage in detailed negotiations with the Royal Thai Navy to finalize the contract terms. This selection follows the company's previous success in Thailand, where it was awarded a contract in 2013 to build a 3,600-ton-class frigate for the Royal Thai Navy. That vessel was delivered in 2018.
The latest deal with the Royal Thai Navy could potentially lead to additional orders, as Thailand continues to modernize its naval forces.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
