Turkey orders 6 submarines from HDW in $4 bln deal

Defence Minister Vecdi Gonul told reporters the first new air-independent but non-nuclear submarine would be delivered in 2015.

Turkey orders 6 submarines from HDW in $4 bln deal
NATO-member Turkey said on Tuesday it will order six new U-214 class submarines from Germany's HDW in a deal worth around 2.5 billion euros ($3.97 billion) as part of an upgrade of its naval fleet.

The contract was won by HDW/MFI, a joint venture between Thyssen Krupp's HDW unit and UK-based Marine Force International. The size of MFI's part of the deal was not immediately clear, although a large part of the deal was from HDW.

Defence Minister Vecdi Gonul told reporters the first new air-independent but non-nuclear submarine would be delivered in 2015.

The two other bidders for the contract were France's DCNS, which is 25 percent owned by defence electronics company Thales , and the Spanish government shipbuilder Navantia SA.

"The submarine purchase project will cost around 2.5 billion euros," Gonul said after a meeting of a defence industry committee.

Gonul said Turkish industrial participation in the project would be worth around 80 percent of the total value of the deal.

A Turkish defence ministry official said around 15 percent of the project would be paid in advance.

Reuters
Last Mod: 22 Temmuz 2008, 15:09
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