Fincantieri, Leonardo JV Secure $1.6B Deal with Italian Navy for Two Frigates

Orizzonte Sistemi Navali (OSN), a joint venture owned by Fincantieri (51%) and Leonardo (49%), has secured a $1.6 billion contract to deliver two new FREMM EVO frigates for the Italian Navy.

As part of the multi-year FREMM program aimed at the renewal of the Italian Navy's fleet through the construction of next-generation frigates, OSN signed a contract with OCCAR (Organisation Conjointe de Coopération en matière d'Armement) for the construction of two new FREMM frigates of the EVOLUTION version, known as FREMM EVO.

The Italian Navy will be able to rely on two new FREMM frigates ensuring high operational performance, with state-of-the-art technology and systems, as well as the latest anti-drone capabilities and the capacity for operational management of unmanned systems across three dimensions (above the surface, on the sea and below the surface).

All the Anti Submarine Warfare (ASW) capabilities and features of the FREMM ASW units currently in service will also be available in the new vessels.

The two new units will be built at Fincantieri’s Integrated shipyard in Riva Trigoso and Muggiano, with the first FREMM EVO due to be delivered in 2029, while the second unit will be available in 2030.

“The acquisition of the two next-generation FREMM EVO frigates is part of the broader renewal and modernization plan that the Italian Navy has launched to upgrade its capabilities, in order to adaptively, promptly, and effectively respond to current and future scenarios in a world that has rapidly changed in recent years,” said Admiral Enrico Credendino, Chief of the Italian Navy.

In the coming weeks, OSN will finalize sub-contracts with Fincantieri and Leonardo, with a value respectively of around $747 million (€690 million) and approximately $449 (€415 million).