Athens signs deal with Rome for two frigates

ATHENS

The deal is part of a broader effort to strengthen defense cooperation.

Greece has signed an agreement with Italy on the acquisition of two second-hand frigates from the Italian navy, ANSA news agency reported.

Greece will purchase two FREMM frigates currently in service with the Italian navy fleet.

A signing ceremony took place in the presence of Italian Defense Minister Guido Crosetto and Greek Defense Minister Nikos Dendias in Rome.

Italian shipbuilder Fincantieri is expected to play a role in the acquisition process and in support activities throughout the life cycles of the vessels.

“The progress of the transfer process opens up new opportunities for industrial synergies between Fincantieri and the Greek industrial system, with effects across the supply chain,” said Fincantieri CEO and General Manager Pierroberto Folgiero.

Folgiero said the entry of the FREMMs into the Greek army represents “a first step” toward broader integration of expertise, technologies and industrial capabilities for the countries.

The value of the operation for Fincantieri could be around 2-3 billion euros, according to market source.

The shipbuilding group could reach the figure by providing logistical support for the two FREMMs transferred and through the construction of two new vessels for the Italian Navy.

Greece recently signed a major defense deal with Israel.