Portugal to acquire three Italian frigates for €3.9Bn
Portugal’s Prime Minister, Luís Montenegro announced the acquisition of three Italian frigates from Fincantieri worth €3.9Bn to beef up its naval capacity, today.
The Prime Minister, accompanied by the Ministers of Foreign Affairs, Paulo Rangel, and Defense, Nuno Melo, announced the signing of agreements in the fields of foreign policy and defence; the latter agreement, concluded under the SAFE (Security Action Instrument for Europe) framework, covers the acquisition of three multi-role “FREMM EVO” frigates, which will be delivered to the Portuguese Navy between 2029 and 2030.
“Regarding this defence agreement we are signing today for the acquisition of three frigates—we are talking about an investment of approximately €3.9Bn. We are talking about capability—both Portuguese and European capability—to monitor our maritime resources and safeguard our strategic interests.
It is also about safeguarding international navigation and the conditions for free and fair global trade,” stated Montenegro following a meeting in Rome with his Italian counterpart, Giorgia Meloni.
“We are talking about science, about knowledge, and about economic opportunities that extend well beyond this equipment itself.
A range of industries and activities collaborate to ensure this equipment is considered world-class—so cutting-edge, in fact, that we chose to acquire it.
We are talking about our European strategy: achieving greater autonomy and capacity while simultaneously creating more and better jobs, as well as more business and better opportunities,” he continued.
In December, CNN Portugal reported that the Portuguese state would acquire three Italian frigates, passing over the French shipyards of Naval Group, which had also been in the running. The vessels will replace part of the five-frigate fleet Portugal currently operates.
The investments will fall under the SAFE (Security Action for Europe) program, through which the European Commission will provide €150Bn in loans on favorable terms for military re-equipment.
Source: CNN/Negócios
