September 24, 2023

Hyundai Heavy Industries Bags Mega-Contract for Six Offshore Patrol Vessels from Philippine Navy

In a major victory for Hyundai Heavy Industries (HHI), the leading Korean shipbuilding company has inked a significant contract with the Philippine Department of National Defense. Signed on June 27th, the deal is worth USD 573 million and involves the construction of six new 2,400-ton Offshore Patrol Vessels (OPVs).

The contract signing took place at the Philippines Department of National Defense complex in Manila, attended by a host of prominent figures from the Philippine military and Korean shipbuilding industries. The agreement represents a significant boost to the capabilities of the Philippine Navy and underlines HHI’s growing influence in the global naval ship market.

The new OPVs, each displacing 2,400 tons and stretching 94.4 meters in length, will be constructed at HHI’s Ulsan shipyard by 2028. With a maximum speed of 22 knots and a cruising speed of 15 knots, these vessels are expected to significantly enhance the Philippines’ maritime capabilities. The OPVs will be equipped with a 76mm main gun, two 30mm secondary guns, and will feature a helideck capable of operating both helicopters and unmanned aerial vehicles.

This new design leverages the proven BRP Jose Rizal class Frigate platform, tailoring it to meet the specific requirements of the Philippine Navy. This OPV order marks the beginning of HHI’s ambitious plans to tap into the lucrative overseas OPV market.

This isn’t the first time HHI has collaborated with the Philippine Department of National Defense. Previously, HHI signed contracts for the construction of two Corvettes in 2021 and two BRP Jose Rizal Class Frigates in 2016, all of which have been successfully delivered to the Philippine Navy.

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Mr. Sang-Hoon Nam, Chief Operating Officer of Naval & Special Ship Business Unit of HHI, expressed his delight at the contract signing, stating that their strategy of developing and exporting various types of naval vessels to meet global market demand has paid off.

Furthermore, on the same day, HHI signed a contract for the Maintenance, Repair, and Overhaul of BRP Jose Rizal Class Frigates. This agreement solidifies HHI’s comprehensive expansion into naval ship services, positioning it as a ‘Global Top Class Naval Ship Solution Partner’. This two-fold contract amplifies HHI’s growing reputation as a significant player in the naval shipbuilding and maintenance sector.