Qatar Signs €5bn Naval Deal with Italy

Qatar to Buy Seven Navy Vessels from Italy for €5bn

(Source: Al Jazeera; posted Aug 2, 2017)

By Ali Younes

The four corvettes that Fincantieri will build for Qatar are likely to be similar to the Abu Dhabi-class it has built for the UAE Navy, and which is derived from the Italian Navy’s Cigala Fulgosi design. (Fincantieri photo)

Italy has signed a 5bn-euro ($5.9bn) agreement with Qatar's naval forces that includes the sale of seven naval units, according to a joint announcement by the foreign ministers of Qatar and Italy.

Sheikh Mohammed bin Abdulrahman Al Thani, Qatar's foreign minister, also announced the signing of two other bilateral agreements that will increase political consultations and joint economic investments between the two countries.

During his one-day visit to Doha, Angelino Alfano, Italy's foreign minister, stressed his country's excellent political and economic ties with Qatar and expressed his support for Qatar’s efforts to combat terrorism.

"I would like to point out to our excellent ties with Qatar and that our goal is to support Qatar’s plans in the international arena," he said. (end of excerpt)

Click here for the full story, on the Al Jazeera website.

(EDITOR’S NOTE: The above announcement follows the signing of a preliminary contract in June 2016 for the deal between the Italian group Fincantieri and Qatar for four corvettes, an amphibious vessel and two patrol boats,” Agence France Presse reported August 2.
Note that the two “patrol boats” are in fact Offshore Patrol Vessels.
At the time, it was said that the contract was worth €4 billion to Fincantieri, and it is not clear what warrants a 20% price hike as its contents have not changed.
The contract also includes 15 years of support.
Below is the statement published by Fincantieri on June 16, 2017 after the signature of the original contract.)


Fincantieri to Build Seven Units for Qatar

(Source: Fincantieri; issued June 16, 2017)

TRIESTE, Italy --- Fincantieri, one of the world’s most important shipbuilding groups, and the Qatari Ministry of Defence, have signed today in Rome a contract for the construction of seven new-generation units included in the national naval acquisition programme.

The signing took place between the Commander of Qatar Emiri Naval Forces, Staff Major General Mohammed Nasser Al Mohannadi and the CEO of Fincantieri, Giuseppe Bono, in the presence of the Ministers of Defence of the two countries, Khalid bin Mohammed Al Attiyah and Roberta Pinotti.

The contract, amounting for Fincantieri to approx. 4 billion euros, envisages the supply of seven surface vessels, of which four corvettes of over 100 meters in length, one amphibious vessel (LPD - Landing Platform Dock), and two patrol vessels (OPV - Offshore Patrol Vessel) as well as support services in Qatar for further 15 years after the delivery of the vessels. All the units will be entirely built in Fincantieri Italian shipyards starting from 2018, ensuring 6 years of work and an important impact on the main Italian defense companies.

Fincantieri has prevailed over other naval shipbuilders thanks to a project recognized as the most advanced and innovative of all. This was also achieved based on the experience gained by Fincantieri in the construction of high-tech vessels for some of the most prestigious foreign navies.

Giuseppe Bono, CEO of Fincantieri, stated: “This is a day to remember for Fincantieri, because winning the global competition for such a programme was far from easy. We have achieved a remarkable result, which allows the company to become a world leader also in the defense sector, as in cruise and offshore. With this contract Fincantieri creates a true partnership with the Qatar Emiri Naval Forces, which now position themselves as technologically advanced. The backlog increase will guarantee work for another ten years at least, ensuring continuity to the activities in the shipyards, creating the conditions to contribute to the country’s growth and increase the value for the shareholders.”

Bono concluded: “We achieved this goal thanks to the support of the “Italian System”, finally responding to the great ambitions of the major national companies, and to the key role played in this deal by our Government and our Navy, that supported us actively until the final closing of the agreement”.


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