The timetable for the delivery of five corvettes ordered for the Saudi Arabian Navy in July is to start in October 2021, the president of Spain’s state holding group has told parliament.
The remaining four will be handed over in four-month intervals, said Vicente Fernández Guerrero, head of Sociedad Estatal de Participaciones Industriales (SEPI), which controls shipbuilder Navantia.
There were fears in September of a possible cancellation of the EUR1.8 billion (USD2.1 billion) order because of a ban on Spain selling laser-guided bombs to the Saudis, which was overturned within a week.
However, Fernández Guerrero assured members of parliament (MPs) on 7 November that work would start on the ships in January 2019 at the San Fernando yard in the Bay of Cadiz.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes