Friday, September 15, 2006


Italian shipbuilder wins $101m. contract for Iraq

Italian shipbuilder Fincantieri said Friday it won a ship order from the Iraqi Navy for the construction of four patrol vessels. The contract is worth over $101 million and the ships will be delivered by the first half of 2009 at three-month intervals the company said in a statement.
Fincantieri will also provide logistical support to the Iraqi Navy and training to operate the vessels. The ships will be modeled on those the company has already built for the Italian coast guard and the Maltese armed forces. Iraq's fledgling navy has said it plans to acquire 21 new boats over the next two years as it prepares to take over the security of offshore oil terminals, the main gateway for the country's petroleum exports.

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