The companies announced on Friday that Leonardo, a defence group, and Immsi’s Intermarine naval unit had signed a contract worth up to 2.6 Billion Euros ($2.82 Billion) for the supply of 5 minehunters to Italy's Navy.

The contract includes logistic support and is worth around 1.6 billion euros for the vessels.

Intermarine, which has shipyards located in Sarzana, will produce the vessels. It will receive 73% of 1.6 billion euro, while Leonardo will get the remaining 27%, according to the statement.

The statement said that the contract was part of a Navy effort to upgrade its equipment at a time when "international tensions are increasing and maritime threats are growing."