News Story: (Philippines) DND, South Korea firm to sign P16-B ship agreement

Incheon class Frigate (Image: Wiki Commons)

By Alexis Romero

MANILA, Philippines - The Department of National Defense (DND) and a South Korean firm are set to sign a multibillion-peso deal for the purchase of two ships for the Navy, the first military contract to be inked under the Duterte administration.

The agency issued a notice of award to Hyundai Heavy Industries Inc. last Aug. 18 and a contract could be signed this month for the two new frigates, DND public affairs chief Arsenio Andolong told The STAR yesterday.

The notice of award is a document that declares a supplier as the winning bidder. It was formally accepted by Hyundai Heavy Industries last Wednesday.

“We were informed though that anytime this week, officials from Hyundai will be arriving in Manila to receive and review the Notice of Award,” Andolong said.  

“Ten days after the formal receipt … the notice to proceed and contract for the project will be signed,” he added.

The P16-billion ships acquisition project is one of the biggest items in the military’s modernization program. It aims to enhance the Philippines’ territorial defense and disaster response capabilities.

Read the full story at Philippines Star