Should the contract for the Department of National Defense's P18-billion frigate program be awarded to a qualified shipbuilder within the year, the country will be making eight payments for the two ships which will give the Philippine Navy a much-needed boost in surveillance and firepower capability.
Commodore Roland Mercado, Philippine Navy technical working group head for the frigate project, said the proposed payment scheme can be broken down as follows:
- 15 percent during the awarding of the contract;
- 15 percent upon finalization of the contract;
- 10 percent for the laying of the keel of the ships;
- 10 percent for the construction of the vessel;
- 15 percent for installation of engines, weapons, communications, sensor systems, and auxiliary machinery;
- 15 percent during the acceptance trials;
- 10 percent upon delivery of the frigates to the Philippines;
- 10 percent upon completion of the warranty period.
Mercado said that this payment scheme is still for approval of PN flag-officer-in-charge Vice Admiral Jose Luis Alano.
Building of the two ships is expected to be completed within two years.
Read the full story at PTVNews