The design for the U212 NFS submarine. (Image: Fincantieri)
Fincantieri and ThyssenKrupp Marine Systems (TKMS) have signed an Industrial Collaboration Agreement (ICA) to bid for a contract for submarines required by the Philippine Navy.
The Philippine Navy has been looking to acquire at least two diesel-electric submarines since 2015 as a priority, as the country has no submarines in its fleet as yet.
The acquisition is scheduled as part of the Horizon 3 modernisation programme, which is set to run from 2023 to 2028, and the Philippine Navy reportedly has US$1.8 billion to spend on the right vessels.
Both Fincantieri and TKMS were already in the bidding process
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