Marine Link
Sunday, December 15, 2024

Shipbuilding: Navantia to build Five Navy Frigates

Maritime Activity Reports, Inc.

December 16, 2018

Spain's Navantia will build five F-110 frigates for the Spanish navy in a contract worth $4.9 billion. Navantia, which employs around 5,000 people, has in recent years racked up deep losses which reached 389 million euros in 2017.

The government's representative in the Galicia region where the frigates will be built said the contract would create 1,300 direct jobs over nine years and as many as 5,700 more indirectly.

Javier Losada, a member of Prime Minister Pedro Sanchez's Socialist party, said the contract would be approved on Friday during the weekly cabinet meeting.

In April, Spain agreed to sell warships built at Navantia's yards to Saudi Arabia in a deal worth an estimated 1.8 billion euros.

(Reuters)

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week