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Saudi Arabia has signed a Letter of Intent (LoI) with Spanish firm Navantia S.A. on Thursday to purchase five Avante 2200 corvettes, including Combat Management System, worth about €2 billion.




The signing took place between Saudi Arabian Military Industries (SAMI) and Navantia S.A. on Thursday. Orginally, the contract was supposed to sealed in 2016, but signing was postponed.




The Avante 2020 corvette selected by Saudi Arabia is derived from the offshore patrol vessels that Navantia built for Venezuela; they are 98 meters long and displace 2,450 tonnes.


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