South Korea’s Hyundai Heavy Industries Group annoucned that it has awarded a landmark deal worth $463 million with Peru.

The contract, awarded by Peru’s state-owned shipbuilder SIMA Peru S.A., entails the joint production of four warships for the Peruvian Navy at the Callao shipyard, signaling a significant step in strengthening Peru’s maritime defense capabilities.

The order encompasses a diverse fleet, including a 3,400-ton frigate, a 2,200-ton Offshore Patrol Vessel (OPV), and two 1,500-ton Landing Craft Units (LCUs).

HHI and SIMA Peru S.A. will collaborate closely in the shipbuilding process, with HHI spearheading the design and provision of equipment and technical support, while SIMA Peru will oversee the final stages of construction.

The selection of HHI followed a rigorous evaluation process conducted by SIMA Peru, which considered proposals from leading shipbuilders worldwide. Factors such as technology transfer, local industry participation, technical expertise, pricing, and construction timelines were meticulously assessed to ensure the optimal outcome for Peru’s defense requirements.

The project marks Korea’s largest-ever warship export deal to Latin America.