Italian shipbuilding company Fincantieri has signed several memorandums of understanding (MoUs) with a number of selected potential Greek suppliers.

The partnership deal between Fincantieri and new potential suppliers was inked at the Italian Embassy in Athens on 12 October.

The signing aims to support the construction four naval vessels for the Hellenic Navy.

It also includes provision of providing the integrated logistic support (ILS) and in-service support (ISS) for the vessels.

The MoUs are as part of a ‘high-profile process’ followed by the Hellenic Ministry of National Defence for the construction of new corvettes.

According to Fincantieri, the latest deal will lay the foundation to strengthen the group’s cooperation with different Hellenic companies, as well as for determining potential business relationships for specific supplies.

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The potential companies were identified and selected by Fincantieri after carrying out a series of scouting activities in Greece.

The selected companies will now work in collaboration with Fincantieri to support various existing as well as future naval programmes in Greece.

Fincantieri’s clients primarily include several international navies along with some of the major European defence companies, working within the supra-national programmes.

The company said that it is further aiming to expand its suppliers’ panel by establishing a supply chain that focuses on the naval domain related activities in Greece.

Since 2016, Fincantieri is also supporting Qatar’s programme for construction of two offshore patrol vessels (OPVs), four corvettes and one landing platform dock for the Qatari Emiri Navy (QEN).

The company recently delivered QEN’s first Al Zubarah-class multi-role corvette and first the OPV.