Hyundai Heavy Industries won a contract to build two frigates for the Philippines Navy, the company said Monday.

Chung Ki-sun, the executive vice president of HHI Corporate Planning Office, and Philippines’ Defense Secretary Delfin Lorenzana signed an agreement in Manila to build two 2,600-ton frigates worth 370 billion won ($325.7 million). 

The 107-meter long frigates with a width of 12 meters will be propelled with a combined diesel and diesel (CODAD) propulsion system with maximum speed of 25 knots. They will have a range of 4,500 nautical miles at a cruising speed of 15 knots.

The frigates will be armed with missiles, torpedoes, guns and sensors controlled by the latest combat management system that are capable of conducting anti-air warfare, anti-surface warfare, anti-submarine warfare and electronic warfare, the company said.

The Korean company won the bidding in August after competing with companies from France and Spain. It carried out negotiations for two months afterward.

The shipbuilder will hand over the frigates by 2020, it added. 

By Lee Hyun-jeong (rene@heraldcorp.com)