Hyundai Heavy Bags 370 Billion-Won Frigate Order from Philippines

Hyundai Heavy Industries Co., a major shipyard in South Korea, said Monday that it has secured a 370 billion-won about (US$325 million) deal from the Philippines to build two frigates.

    Under the deal, Hyundai Heavy will build the 2,600-ton ships, 107 meters long and 12 meters wide each, by 2020, the company said.

    Hyundai Heavy was picked as a preferred bidder in August this year, and had been negotiating with the Philippines' defense ministry, according to South Korea's (Yonhap) News Agency.

    The vessels will have a maximum speed of 25 knots. In terms of armament, the ships will carry a naval gun, anti-surface missile launcher and torpedo, and other arms control systems, Hyundai Heavy said.