A joint venture between Fincantieri and Leonardo has signed a contract with the European procurement agency OCCAR worth around €3.7 billion ($4.21 billion) to supply two new generation DDX destroyers for the Italian Navy.
The contract is worth approximately €1.8 billion to Fincantieri and €1.7 billion to Leonardo, the companies said in a statement on Thursday.
About €1.3 billion of the total contract value consists of options.
Delivery of the two vessels is scheduled for 2033 and 2035.
Fincantieri owns 51 per cent and Leonardo 49 per cent of Orizzonte Sistemi Navali (OSN), the joint venture that won the contract.
Key features of these vessels include a DC power network with energy storage, an integrated stabilisation and steering system, new thermal and electrical balance algorithms, and further development of the ship management system.
The combat system will combine SADOC 5 C5I, an S-band AESA radar and MBDA weapon systems.
"With these two new-generation units, the (Italian Navy) will be able to rely on naval platforms offering advanced operational performance and capable of addressing a broad spectrum of threats," Leonardo CEO Lorenzo Mariani said.
(Writing by Francesca Piscioneri, editing by Alvise Armellini, Baird Maritime)