Fincantieri-Leonardo: from the FREMMs to the DDXs and Clara, the naval projects for 2026
The contracts expected by JV Osn with Italia, Portugal and Greece
The two destroyers for the Italian Navy, the three FREMM Evo frigates for Portugal, the deal with Greece to transfer two Italian FREMMs, the reconnaissance vessels Clara, and the study for the refurbishment of the support vessel Etna for the Italian Navy. These are the projects expected in the naval defence sector from Fincantieri-Leonardo, through the Orizzonti Sistemi Navali joint venture, for the remainder of 2026 and which, for the Trieste-based group, could bring it closer to its stated target of €5 billion in new orders in the defence sector. The pipeline is set out in a chapter of the financial statements of OSN, a joint venture for the design and production of naval vessels in which Fincantieri holds a 51 per cent stake and Leonardo 49 per cent. The two partners are not commenting on the commercial opportunities pending finalisation.
The report, viewed by Radiocor, accompanies the accounts approved in April and estimates that contracts for two new destroyers for the Italian Navy, along with the associated multi-year technical-logistical support, for an amount indicated in the Ministry of Defence’s Multi-Annual Planning Document (DPP) as approximately 2.7 billion. In the long term, the programme, as set out in the DPP 2025–27, also provides for a further two naval vessels. The second dossier concerns Portugal: for months now, Lisbon has selected Fincantieri to supply three FREMM Evo frigates in a contract estimated at 3 billion euros, which would form part of the projects funded through the European SAFE funds. The OSN report indicates that the tender, negotiation and contract finalisation phases will be completed “by June”. In February, the Portuguese government was authorised by the European Commission to apply for up to 5.8 billion from the Security Action for Europe programme.
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