Thai Navy selects Hanwha Ocean to build $508 million frigate — Anadolu Agency
The Royal Thai Navy has selected South Korean company Hanwha Ocean Co. Ltd. to build a frigate under a defense project worth 16.73 billion baht, or about $508 million. This was reported by Anadolu Agency, citing Thai PBS World.
Cost and scope of procurement
Hanwha Ocean’s proposal provides for a total cost of 16.73 billion baht. This amount includes VAT, other taxes, transportation and all other expenses, but does not cover customs duties.
The procurement will also include related systems and equipment, spare parts, personnel training and support services.
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Tender committee decision
The winner was announced by Royal Thai Navy Commander-in-Chief and chairman of the frigate procurement committee Admiral Korabid Chayarati. Hanwha Ocean is a South Korean company in shipbuilding and marine engineering.
Official announcement
According to Thai Navy spokesperson Rear Admiral Parat Rattanachaiyaphan, Prime Minister Anutin Charnvirakul approved the selection results last week. The Navy is to officially announce the result on September 18, after the appeal period ends.
