The Department of National Defense has signed a P28-billion contract with South Korea's Hyundai Heavy Industries (HHI) to build the two missile corvettes for the Philippine Navy.
Defense Sec. Delfin Lorenzana said, despite the pandemic still the country was able to meet its target to have the contract for the Philippine Navy Corvette acquisition project signed before 2022.
"Despite delays due to the pandemic, we are finally signing the contract, the last phase of the procurement process," said Lorenzana.
The two modern corvettes for the Philippine Navy are capable of anti-ship, anti-submarine and anti-air warfare missions.
The Defense secretary noted that all naval platforms have a common shipbuilder, Hyundai Heavy Industries, where the country bought the two frigates, which means easy for its maintenance and repairs.
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