The Royal Thai Navy has chosen South Korea’s Hanwha Ocean Co. Ltd. to construct a new frigate under a defense procurement deal worth 16.73 billion baht, or approximately $508 million.
The contract will cover not only the frigate but also associated systems and equipment, spare parts, training and technical support services.
Admiral Korawit Chayarathi, commander of the Royal Thai Fleet and head of the frigate procurement committee, announced Hanwha Ocean as the successful bidder during an official ceremony. The company submitted a bid of 16.73 billion baht, covering taxes, transportation and other expenses, although customs duties were excluded.
Hanwha Ocean is a major South Korean company specializing in shipbuilding and marine engineering.
Thai Navy spokesman Rear Admiral Parat Rattanachaiphan said Prime Minister Anutin Charnvirakul approved the selection results last week. The Navy is expected to formally confirm Hanwha Ocean’s selection on Sept. 18, once the period for submitting appeals has ended.
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