Istanbul Naval Shipyard (INSY) laid the keel for the first Pakistan Navy (PN) MILGEM corvette at a ceremony attended by senior PN naval officials on June 4.
As per the contract for four corvettes for PN with transfer of technology (ToT), two corvettes will be built in Turkey and two others in Pakistan, the media wing of the PN tweeted.
The contract for four ships signed in July 2018 is valued at an estimated $1.5 billion including ToT,
The main Turkish contractor, Military Factory and Shipyard Corporation (ASFAT A.Ş.), will assist Pakistan’s Maritime Technology Complex (MTC) to design its own frigate as an additional contract.
The PN is due to receive the first ship within 54 months of the program’s initiation, i.e., starting May 2019, while it will get the remaining three ships in 60, 66 and 72 months from the start-date.
The $1.5 billion project includes an unspecified amount of loan from Turkey.