Amid high hopes, can the European Patrol Corvette deliver?

ROME — A European naval program worth €6 billion (U.S. $7 billion) to build a new corvette is picking up speed this autumn as naval chiefs throw their weight behind it, even as experts warn the long-awaited consolidation of Europe’s fragmented naval industry still faces stiff headwinds.

Italy, Spain, France and Greece make up the core group of countries pushing for a European Patrol Corvette that would secure EU waters. (Fincantieri)

The European Patrol Corvette, or EPC, got a vote of confidence in October as navy representatives from Italy, France, Greece and Spain met remotely with industry chiefs to thrash out details of the four-nation program.

“The meeting had a really positive outcome – it was the first meeting with industry about the EPC, with lot of useful points emerging,” said Commander Andrea Quondamatteo, the Italian navy’s program manager.

With Portugal attending as an observer and Denmark reportedly showing interest, the program may yet add partners, while the three main nations are currently set to buy 20 vessels, including six for France, six for Spain and eight for Italy.

An industrial source told Defense News that each vessel is expected to cost around €250-300 million, making the Corvette program worth €5-6 billion, even before Greece confirms an order and any new members sign up.

That is cause for celebration at the European Union, where the EPC was inserted in its so-called Permanent Structured Cooperation, or PESCO list of recommended pan-European defense programs designed to create synergies among EU defense firms.

There is also €60 million in EU research cash in the offing, not a huge amount, but enough to show the bloc is on board. By December 9, the European Defence Fund has asked for a list of proposals for research work required to turn the ship into reality.

That proposal will be delivered by Naviris, the joint venture between Italy’s Fincantieri and France’s Naval Group, as well as Spain’s Navantia.