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March 25, 2022

Naval Group signs deal with Greece for three FDI HN frigates

The company is expected to deliver the first two FDIs by 2025 and the third one by 2026.

Naval Group has signed a contract with the Greek Government to build three defence and intervention frigates (FDI) for the Hellenic Navy (HN).

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The contract signing was marked by a ceremony held in Athens, Greece in the presence of Greek Defence Minister Nikólaos Panayotópoulos and French Minister of the Armed Forces Florence Parly.

It follows a defence partnership agreement signed between Greece and France in October 2021.

Under this contract, Naval Group will also provide in-service support and supply MU90 torpedoes and anti-torpedo weapon CANTO. It also includes an option for a fourth FDI.

The first two FDIs are expected to be delivered by 2025 and the third one in the following year.

Naval Group chairman and CEO Pierre Éric Pommellet said: “Naval Group is proud, along with its French industrial partners Dassault, MBDA and Thales, to be a part of this new chapter in the strategic alliance between Greece and France.

“Greece has chosen the latest generation of frigates that bring together the best of French naval know-how and will strengthen the capabilities of the Hellenic Navy.

“The frigates programme is the first of many steps in the partnership between Naval Group and the Hellenic Navy and will contribute to the development of the partnership between our countries, our navies and our industries for decades to come.”

The new frigates are expected to sustainably enhance the capabilities of the HN’s surface fleet.

The FDI HN will feature modern sensors, including Thales Sea Fire, an all-digital multi-function radar with fixed panels and active antenna.

Equipped with two data centres, hosting almost all of the ship’s applications, FDI HN also offers protection against cyber threats.

The FDI HN can conduct a wide range of warfare missions including, anti-ship warfare, anti-air warfare, anti-submarine warfare (ASW) and other special forces projection.

According to Naval Group, the company has been working in Greece to establish partnerships with local industries and will sign the first contracts for FDI HN in the coming months.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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