Tuesday, April 16, 2024

Fincantieri, Indonesian defense ministry forge €1.18 billion deal for naval vessels

Reading Time: 2 minutes
Journalist IBP

Journalist

Editor

Interview

Italian shipbuilding company, Fincantieri, has joined forces with the Indonesian Ministry of Defense in a groundbreaking agreement worth €1.18 billion for the procurement of two cutting-edge PPA Units.

The PPA, or Multipurpose Offshore Patrol Ship, represents the pinnacle of maritime technology, boasting unparalleled versatility and advanced capabilities. 

From conducting patrols and search and rescue operations to engaging in civil protection missions and frontline combat, these vessels epitomize multifunctionality and operational excellence.

The contract signing ceremony, attended by key stakeholders including Fincantieri’s CEO and Managing Director Pierroberto Folgiero and representatives from the Indonesian Ministry of Defense, marks a significant milestone in bilateral defense cooperation between Italy and Indonesia.

Originally commissioned for the Italian Navy, these vessels, currently under construction at the Integrated Shipyard in Riva Trigoso-Muggiano, have garnered significant interest from the Indonesian defense establishment following the Maritime Campaign in the Far East led by Francesco Morosini.

This transformative transaction signifies more than just a procurement deal; it symbolizes a deepening strategic partnership aimed at enhancing maritime security and bolstering defense capabilities in the Indo-Pacific region. 

The acquisition of these state-of-the-art vessels underscores Indonesia’s commitment to safeguarding national interests and contributing to regional stability.

As part of the agreement, Fincantieri will serve as the principal contractor, overseeing the coordination of various industry partners, including Leonardo, to customize combat systems and provide comprehensive logistical support. 

The collaboration will adhere to stringent regulatory frameworks governing transactions between related entities, ensuring transparency and compliance at every stage.

Pierroberto Folgiero emphasized the historic significance of this contract, highlighting its role in fostering long-term collaboration between Fincantieri and Indonesia.

This partnership, anchored in mutual trust and shared strategic objectives, lays the foundation for future joint ventures and collaborative ventures aimed at advancing maritime security and defense capabilities in the region.

The PPA vessels, equipped with cutting-edge technology and manned by highly skilled crews, will serve as a formidable deterrent against emerging security threats and contribute to the protection of vital maritime interests. 

With the capacity to operate high-speed vessels, conduct humanitarian missions, and support civil protection efforts, these vessels represent a paradigm shift in maritime defense capabilities.

Moving forward, Indonesia’s naval fleet will benefit immensely from the addition of these advanced vessels, empowering the nation to navigate the complex geopolitical landscape with confidence and resilience. 

Journalist IBP

Journalist

 

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

The Indonesian Ministry of Foreign Affairs has confirmed that Pope Francis, the leader of the Catholic Church, will visit Indonesia from September 3rd to 6th, 2024. The arrival of His Holiness is a state invitation extended by President Joko Widodo.
Indonesian Ambassador to Cambodia, Santo Darmosumarto, has hinted of potential cooperation in infrastructure and connectivity development in Cambodia following his meeting with Cambodian Minister of Public Works and Transport, Peng Ponea, in Phnom Penh on March 22, 2024.
Canadian Ambassador to Indonesia, Jess Dutton, has expressed Canada’s readiness to advance and strengthen bilateral cooperation with Indonesia’s new government. 
Indonesia and Kazakhstan have agreed to enhance cooperation in the fields of mining and energy, transportation and connectivity, as well as digital and creative economy. 
Defense Minister and President elect Prabowo Subianto paid a courtesy call on Malaysian Prime Minister YM Dato’ Seri Anwar Ibrahim on Thursday, April 4, 2024, discussing improvement for bilateral defense cooperation.
Minister Prabowo Subianto paid a courtesy call on Japanese Prime Minister Fumio Kishida in Tokyo, Japan, on Wednesday, April 3, 2024, particularly discussing deeper defense cooperation between Indonesia and Japan.