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Greece Signs Deal to Buy Two Italian FREMM Frigates
(MENAFN) Greece signed an agreement with Italy on Tuesday to acquire two secondhand FREMM frigates currently serving in the Italian navy fleet, a news agency reported.
The signing ceremony took place in Rome, attended by Italian Defense Minister Guido Crosetto and Greek Defense Minister Nikos Dendias.
Italian shipbuilder Fincantieri is set to play a central role both in facilitating the transfer and in providing ongoing support throughout the vessels' operational lifespan.
"The progress of the transfer process opens up new opportunities for industrial synergies between Fincantieri and the Greek industrial system, with effects across the supply chain,” said Fincantieri CEO and General Manager Pierroberto Folgiero.
Folgiero described the FREMMs' entry into Greek naval service as "a first step" toward deeper integration of expertise, technology and industrial capacity between the two nations.
Market sources cited by the news agency estimate the deal could be worth between €2 and 3 billion (roughly $2.3-3.4 billion) for Fincantieri, with the shipbuilder potentially reaching that figure through a combination of logistical support for the transferred frigates and the construction of two new vessels for the Italian Navy.
The signing ceremony took place in Rome, attended by Italian Defense Minister Guido Crosetto and Greek Defense Minister Nikos Dendias.
Italian shipbuilder Fincantieri is set to play a central role both in facilitating the transfer and in providing ongoing support throughout the vessels' operational lifespan.
"The progress of the transfer process opens up new opportunities for industrial synergies between Fincantieri and the Greek industrial system, with effects across the supply chain,” said Fincantieri CEO and General Manager Pierroberto Folgiero.
Folgiero described the FREMMs' entry into Greek naval service as "a first step" toward deeper integration of expertise, technology and industrial capacity between the two nations.
Market sources cited by the news agency estimate the deal could be worth between €2 and 3 billion (roughly $2.3-3.4 billion) for Fincantieri, with the shipbuilder potentially reaching that figure through a combination of logistical support for the transferred frigates and the construction of two new vessels for the Italian Navy.
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