Ukraine is restarting the program to construct corvette class ships, with a budget allocation of 32 billion hryvnia ($1.20 billion USD). The decision was made by the Cabinet of Ministers.
The program will entail the construction of four ships of the Vladimir Velikiy class. The construction of the first ship will resume as early as 2018, and 1.4 billion hryvnia ($50 million USD) has been allocated to this. It is expected to join Ukraine’s naval forces in 2022. The second, third and fourth corvettes will be ready in 2024, 2026 and 2028 respectively.
“The program’s goal is to ensure the construction of corvette class ships according to project 58250, in order to give the naval forces of the Armed Forces of Ukraine the capabilities to repel armed aggression, deter national security threats, and protect the state’s interests,” the addendum to the Cabinet of Ministers’ decision states.
The construction of the first corvette class ship began in 2010. At that stage the cost was estimated at $280 million. The construction was halted in 2014 since the funds were reallocated to the Armed Forces of Ukraine.