The Thai Navy has selected South Korea’s Hanwha Ocean Co Ltd to build one frigate under a Bt16.73-billion procurement project, including related systems, equipment, spare parts, training and support services.
Admiral Korawit Chayarathi, commander of the Royal Thai Fleet and chairman of the frigate procurement project committee, signed an announcement naming Hanwha Ocean as the successful bidder.
The company offered a total price of Bt16.73 billion, excluding customs duties but including value-added tax, other taxes, transportation and all other costs.
Hanwha Ocean is a South Korean shipbuilding and marine engineering company. Founded in October 1973, it was relaunched under Hanwha Group in 2023.
The price is firm and fixed under DAP (Incoterms 2020), covering transportation and insurance until the frigate is delivered to Sattahip Naval Base or another location designated by the Navy.
Meanwhile, Navy spokesman Rear Admiral Parat Rattanachaiphan said that Prime Minister Anutin Charnvirakul had signed off on the summary of the selection results on Sept 4, and the permanent secretary for defence subsequently approved the selection on Sept 7.
He said the Navy was aware that the project was of significant public interest because it involved national security, the protection of maritime interests and the use of public funds.
It therefore placed emphasis on accuracy, value for money, transparency and accountability throughout the procurement process.
The Navy stressed that the project was intended to benefit the country as a whole, rather than simply provide the Navy with a new warship.
The Navy will officially announce the selection result on Sept 18, after the appeal period expires.
It will disclose the result and explain the selection criteria, reasons for the selection, key elements of the proposals and the benefits to the country.
