HD Hyundai confirmed that the contract is in effect. Key points:2 more Miguel Malvar class being contracted with HHI.
Notice of Award (NOA) is the first step. Notice to Proceed (NTP) would mean the contract is activated and binding in PH procurement terms.
Philippines to acquire 2 new frigates from South Korea’s HD HHI - Naval News
The Philippines’ Department of National Defense (DND) is preparing to sign a ₱34-billion ($585 million) contract to acquire two new frigates for the Philippine Navy.www.navalnews.com
- The contract is worth 844.7 billion Korean won (USD 585.6 million), and both vessels are scheduled to be delivered to the Philippine Navy by the second half of 2029.
- The newly ordered frigates will be constructed using the same specifications as the Miguel Malvar-class frigates. This means that construction can be accelerated since there would no long PDR/CDR phase.
HD Hyundai Heavy Industries Secures Philippine Frigate Contract
HD Hyundai Heavy Industries Secures Philippine Frigate Contract 844.7 billion won deal for two 3,200-ton-class warships by 2029
www.chosun.com