Defense Secretary Delfin N. Lorenzana has formally closed the deal for the Philippines to procure two corvettes from South Korea during a ceremonial signing of contract on Tuesday.
“I share the jubilation of our valiant sailors and marines, the entire Armed Forces of the Philippines, as well as the entire nation for this acquisition of two more capital assets for our Philippine Navy,” Lorenzana said in signing the P28-billion contract.
The contract with South Korean shipbuilder Hyundai Heavy Industries will give the Navy two brand- new corvettes from the same firm that has previously supplied it with two brand-new frigates.
“I am very pleased that we were able to meet our target to have the contract for the Philippine Navy Corvette Lot 1 Acquisition Project contract signed before this year ends. Despite delays due to the pandemic, we are finally signing the contract, the last phase of procurement process,” Lorenzana 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.
The defense chief said that in acquiring the corvettes from the same company that delivered the frigates will ensure “commonality” and interoperability with the Navy’s existing assets, and will serve as “backstop” to the two frigates.
Lorenzana said the corvettes would not be the last projects under President Duterte as the Department of National Defense is also expecting to sign the contracts for the acquisition of 32 Black Hawk helicopters and six offshore patrol vessels next month.
The Black Hawks have a contract price of P32 billion and the six patrol vessels for P30 billion.
