According to Greek daily Ekathimerini, the Defence Ministry argues spending €500 million to upgrade its four Hydra-Class MEKO frigates to keep 3200-ton frigates operational for 15 more years.
If the decision is upheld, the Greek Navy's plans to upgrade two of the four frigates will be thrown into question. Greek General Staff plans to have a fleet of 12 frigates and six corvettes to be available for deployment by 2034.
By investing €500 million in an upgrade, the Navy will have about €1.5 billion – which, according to officials, could rise to €1.7 million – to spend on the corvette acquisition. According to Prime Minister Kyriakos Mitsotakis, a decision will be made on the purchase by the end of the summer.
Greece's corvette procurement program has already attracted the interest of France, Italy, the Netherlands, the United Kingdom, and the United States.
The U.S. State Department also approvedin December 2021 a possible Foreign Military Sale (FMS) to Greece of MEKO Class Frigate Modernization and related equipment for $2.5 billion.
