Italian Navy exercises its option for the fourth Offshore Patrol Vessel from Orizzonte Sistemi Navale
As part of the Italian Navy's Offshore Patrol Vessel (OPV) program, Orizzonte Sistemi Navali (OSN), a joint venture owned by Fincantieri (51%) and Leonardo (49%), has received notification from the Italian Navy that it has exercised its option for the construction of the fourth next-generation patrol vessel and the related logistical support. The total value of the operation is about 236 million euros, according to Fincantieri's release.
In the coming days, Orizzonte Sistemi Navali will finalize sub-contracts by notifying the option exercise to Fincantieri and Leonardo, with a value respectively of around 163 million euros and 70 million euros. The contract with Fincantieri constitutes a significant related-party transaction.
For Leonardo, the sub-contract is a related-party transaction of lesser importance, considering its value and the applicable relevance indexes.
Both transactions are in keeping with the applicable regulations and are exempt from the procedural regime for related-party transactions (including jointly), pursuant to current regulations and the respective procedures adopted.
The OPV program, put in place to contribute to the modernization and renewal of the Italian Navy's units, responds to the need to ensure adequate capabilities for presence and surveillance, maritime patrolling, merchant traffic control, protection of lines of communication and the exclusive economic zone, as well as operations to protect against threats derived from marine pollution, such as toxic liquid spills.
With a length of about 95 meters, a displacement of 2,300 tons and the capacity to accommodate 97 crew members on board, the new patrol vessels, which will be built at Fincantieri's Riva Trigoso and Muggiano Integrated Shipyard, will be marked by a package of technological solutions, as well as standards of excellence in automation and maneuverability that will make them suitable for operating in a wide range of tactical scenarios and weather conditions.
Among the most innovative features is the naval cockpit, developed for the Italian Navy's Multipurpose Offshore Patrol Vessels (PPAs) based on a truly revolutionary requirement: an integrated workstation, co-produced by Leonardo and Fincantieri NexTech, that allows the conduct of the ship and airborne operations by just two operators, the pilot and co-pilot, who have incorporated the figures of the bridge watch officer and the captain. Indeed, from this station, located in the command bridge, it is possible to manage the machines, rudders and platform systems and some functions of the combat system.
