Italy's Fincantieri signs €4bn deal to build ships for Qatar
Fincantieri has signed a deal worth almost €4bn ($4.47bn) to build seven ships for Qatar, the Italian state-controlled shipbuilder said on Thursday.
Fincantieri will supply Qatar with four corvette warships, two support vessels and an amphibious landing platform dock, and will provide support services in Qatar for 15 years after delivery, the company said in a statement.
All the ships will be built in Italian shipyards, with construction beginning in 2018.
Italy's defence company Leonardo-Finmeccanica will supply electronics and weapons systems for the ships and will receive around a third of the value of the deal, or more than €1bn, a company official said.
The deal was signed in Rome by Fincantieri Chief Executive Giuseppe Bono and Qatari naval commander Mohammed Nasser Al Mohannadi, in the presence of Italian Defence Minister Roberta Pinotti and HE the Minister of State for Defence Affairs Dr Khalid bin Mohamed Al Attiyah.
Courtesy: gulf-times.com
Interesting news.. This means an expansion of the Qatari Navy and its operations and diversification from the usual arms suppliers
We welcome the deal, hope everything pans out as the plan .............. !