Greek companies lining up to build military ships with France’s Naval Group


Following the announcement of the Greek government's purchase of frigates from France with the signing of a military pact, Greek companies have been courting France’s Naval Group, which is building three new frigates for the Hellenic Navy, in the hope of a joint execution of the contract report Greek media.

According to Kathimerini newspaper, 'the precise cost of the three landmark warships for Greece has not yet been made known as this week’s signing concerns a cooperation memorandum and not any contracts, which remain under negotiation. However, sources say the price for the three vessels will be in the region of 3 billion euros. That figure will include the weapon systems (hence the memorandum signed in Paris incorporates weapons manufacturer MBDA) and the Follow-On Support for a period of time that has not yet been defined but is expected to last five years.'

'Given that Greece has long signaled it wants part of the money to finance the Hellenic Navy’s shipbuilding program to return in value terms to the national economy, Naval Group has already scanned the market for possible partners.

'Its task force has already identified more than 100 companies, and made contacts and exchanged information with more than 70 of them, including METKA, Space Hellas, Akmon, Stelma, Miltech, Prisma, Thales Hellas, Terra Spatium and Hydrus Engineering.

'Naval Group has aptly named this the “Project of Greek Industrial Participation” and its task force to that end has been in Greece since May, the French company has announced.'