STX Offshore wins W229b frigate deal

STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Wednesday that it has won a 229 billion won ($201 million) order to build two frigates.

Under the deal with the Defense Acquisition Program Administration, the country’s defense procurement agency, STX Offshore will deliver the vessels by the end of 2015.

South Korea is planning to build 20 new frigates by 2020 under a naval buildup project code-named “FFX.” (Yonhap News)