The project, worth 16.73 billion baht (US$509 million), covers the construction of a 4,000-ton-class frigate, along with related equipment and integrated maintenance and logistics support.
The selection of Hanwha Ocean as the preferred bidder allows the company to begin detailed negotiations with the Royal Thai Navy over the project including its technical specifications, scope and other contract terms.
The final contract will be decided after the negotiations are completed.
Hanwha Ocean said its track record and accumulated shipbuilding technology helped secure the latest selection, citing its 2013 order to build the 3,600-ton-class frigate HTMS Bhumibol Adulyadej for the Thai navy and its delivery in 2018.
If the latest project proceeds smoothly, it could lead to additional orders as Thailand plans to expand its fleet of high-performance frigates from four ships to eight by 2037.
Hanwha Ocean said it aims to use the project to deepen maritime defense cooperation with Thailand and expand its presence in the global shipbuilding market.
AJP Takeaways
- Hanwha Ocean was selected as the preferred bidder for a 4,000-ton-class frigate project for the Royal Thai Navy, valued at 16.73 billion baht (US$509 million).
- Hanwha Ocean will enter detailed negotiations with the Royal Thai Navy on the frigate's technical specifications, project scope and other contract terms before a final contract is signed.
- The project could lead to more orders from Thailand, which plans to expand its high-performance frigate fleet from four ships to eight by 2037, while Hanwha Ocean seeks to strengthen its position in the global shipbuilding market.
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