Indonesia Secures Facility to Fund Acquisition of Italian PPAs

⚓ OPV Thaon di Revel class when arrived in Indonesia. (Dispenal) 💥

Indonesia has secured a loan facility to fund the acquisition of two multirole offshore patrol ships (Pattugliatore Polivalente d'Altura: PPA) from Italian shipbuilder Fincantieri, sources close to the matter have confirmed to Janes.

Loan syndication process for the USD 1.25 billion facility was led by BNP Paribas with the involvement of Crédit Agricole and supported by Italian insurance-financial institution SACE, according to documents provided by the sources.

These documents also reveal that the Indonesian government will name its two PPAs KRI Brawijaya and KRI Prabu Siliwangi with pennant numbers 320 and 321 respectively.

Accordingly, these vessels will be applied with the flight deck markings of BWJ and PBS respectively, the documents reveal.

A formal signing ceremony for the facility is expected to take place between the Indonesian Ministry of Finance and the joint lenders before the end of 2024.

Fincantieri disclosed in March 2024 that it has signed a EUR 1.18 billion (USD 1.29) contract for two PPAs with the Indonesian Ministry of Defense.

The PPA is a class of 143 m warships that can be configured for a wide spectrum of missions ranging from ‘light' low-tempo maritime surveillance operations to ‘full combat' higher-end warfighting scenarios.

Depending on the configuration, the vessels displace between 5,800 and 6,300 tonnes each.

Thus far, the Italian Navy has commissioned three of the vessels as its Thaon Di Revel class, and these ships were inducted between March 2022 and September 2023.

For the contract it signed with Indonesia, the PPAs that will be supplied were originally destined for the Italian Navy, Fincantieri said in its statement, and will likely be supplied in the ‘light plus' configuration. 

  💥 Jane's