Italian company Fincantieri announced on Wednesday the signing of memoranda of understanding (MoU) with “a number of potential new suppliers” in the context of the procedures followed by the Hellenic Ministry of National Defence for the construction of four corvettes and the provision of Integrated Logistic Support (ILS) and In-Service Support (ISS).

The said MoUs were signed at the Italian Embassy. As highlighted in a relevant announcement by the Italian company, Fincantieri has several navies among its clients and cooperates with some of the main European defence companies in the context of transnational programs. The purpose of these MoUs is to lay the groundwork for defining potential business relationships for specific procurements.

MoUs purpose is to set basis for defining possible business relationships for specific supplies. #Group is continuously looking at reinforcing its supplier’s panel and establish a supply chain dedicated to naval activities within development of these segments set out by Greece. pic.twitter.com/w48HqR0xXX

— Fincantieri (@Fincantieri) October 12, 2022

According to the announcement, the group – which can rely on a wide range of trusted suppliers and subcontractors – is always looking for opportunities to expand and strengthen its suppliers’ panel and will establish a supply chain dedicated to naval activities within the development of these segments set out by Greece.

Fincantieri has carried out scouting activities in Greece in order to identify suppliers for potential collaborations with reference to the existing Greek program or any new vessel program for the Hellenic Navy, with the main objective of strengthening the group’s cooperation with Greek companies.

It is recalled that an agreement has already been signed for the purchase of 3 advanced French FDI frigates for the Hellenic Navy, with the possibility of another one. However, at the same time, programs for the purchase of corvettes and the modernization of the MEKO class frigates, in the possession of the Hellenic Navy, are underway.

With the signing of these MoUs, Fincantieri seems to be attempting to establish a basis for cooperation with Greek companies – a potential network of suppliers – for the corvette building program, if implemented eventually.

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