Portugal to Acquire Three Frigates From Fincantieri in ~€3B Deal

Portugal plans to acquire three frigates from Italian shipbuilder Fincantieri as part of a naval modernization drive, Italy’s Prime Minister Giorgia Meloni announced. The FREMM-class ships (the FREMM EVO variant) are multi-purpose frigates designed with anti-air, anti-submarine, and anti-surface capabilities. A Reuters source estimated the contract at about €3 billion, covering the vessels’ acquisition, sustainment, technology transfer, and related requirements through at least a 30-year service life. Deliveries are expected between 2029 and 2030