TWO multirole vessels (MRVs) along with three new helicopters will be delivered to the Navy under the military’s ongoing modernization program.
The acquisition of the naval assets and choppers was disclosed on Thursday by Vice Adm. Alex Pama, Navy flag officer in command, during the celebration of the 115th foundation day of the Army in Fort Bonifacio, Makati City.
A contract for the delivery of one MRV worth P5 billion from South Korea had been signed by the Arroyo administration. The amortization for the MRV amounting to P1 billion annually started last year.
Navy set to acquire multirole vessels, helicopters
MANILA — Philippine Navy (PN) flag-officer-in charge Vice Admiral Alexander Pama on Thursday expressed optimism that the contracts for the service's two multi-role vessels (MRVs) will be signed by July this year.
With the expected signing of this vital document, the contracting shipbuilder can proceed ahead with the construction of the above-mentioned ships as per design specification of the Philippine government.
The acquisition cost for the two MRVs is estimated to be worth P10 billion.
Philippine Navy to sign contract for MRVs this July - ZamboTimes
Old picture...
Plus we will getiing this ship on March 30, 2012

The ship will be officially decommissioned on March 30th. It will then be transferred to the Philippines.
Also Japan will be giving 3 patrol boats..
Japan is considering giving patrol boats to the Philippines as part of its official development assistance (ODA) to help its Asian neighbor boost maritime security in the East China Sea in line with the policy taken by the United States.
Japan is expected to urge the Philippines to formally file a request for the patrol vessels during a vice-ministerial "strategic" dialogue to be held in Tokyo on March 23. The Philippines faces China across the South China Sea, and Washington has been stepping up its military support for Manila. Under these circumstances, Japan plans to fall in line with the United States to help the Philippines improve its maritime security.
Japan started to consider giving patrol boats in the form of ODA after it was sounded out by the Philippines about the assistance. After receiving a formal request from the Philippines, Japan will dispatch a team of researchers from the Japan International Cooperation Agency (JICA) and accelerate *****eral talks aimed at reaching an agreement on the extension of the ODA by the end of this year.
http://mdn.mainichi.jp/mdnnews/news/...na008000c.html