Italian Navy to Get 5 Coastal Minehunter Vessels to Deal with Rising Maritime Threats

Leonardo and Immsi’s Naval Unit Intermarine have signed an agreement of 2.6 billion euros ( $2.82 billion) to supply 5 coastal minehunter vessels to the Italian Navy, the companies disclosed on Friday.

The contract is inclusive of logistics support for the vessels and is worth 1.6 billion euros for the ships.

After this news, Immsi’s share prices increased by over 16% and Leonardo was also up 2.3%.

Intermarine will build the 63 m long ships in the Sarzana shipyards and will have a 73% share of the agreement, with th 27% being with Leonardo, per report.

Leonardo will be responsible for the ships’ combat and communications systems.

The statement added that this contract is part of the Italian Navy’s efforts to get new and advanced vessels in its fleet at a time of increasing international tensions and maritime threats.

Reference: Reuters

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