Thyssenkrupp, Embraer sign US$2bn deal to build four frigates for Brazil Navy

BRAZIL – A consortium formed by Germany’s Thyssenkrupp AG and Brazilian planemaker Embraer SA signed a deal to deliver four frigates to Brazil’s navy between 2025 and 2028. Reuters reported that the contract signed in Rio de Janeiro is part of Brazil’s drive to modernize its navy so it can patrol offshore resources in the Atlantic, such as Brazil’s vast pre-salt oil reserves. Although the companies did not disclose the price tag, the Brazilian navy website said the four-ship program will cost about US$2 billion. Last year, the companies had…

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