Portugal faces scrutiny over €3.9 billion frigate deal with Fincantieri

The Portuguese government is facing scrutiny from opposition parties Chega and the Socialist Party (PS) regarding the €3.9 billion acquisition of three FREMM EVO frigates from the Italian shipbuilder Fincantieri. The controversy centers on allegations of a lack of transparency and the potential exclusion of private intermediaries.

Reports suggested that the Portuguese company NTG, which had represented Fincantieri in Portugal for nine years, was removed from the deal, potentially losing commissions estimated at approximately €90 million. In response, Defense Minister Nuno Melo issued a statement asserting that no Portuguese companies were involved in the transaction and denied the existence of intermediaries.

The Portuguese Navy clarified that the acquisition is a state-to-state agreement between Portugal and Italy under the EU's SAFE program, which facilitates joint defense procurement. According to officials, because the deal is an institutional intergovernmental agreement rather than a private commercial negotiation, there is no context for commercial intermediaries. Opposition leaders have indicated they will seek formal parliamentary explanations regarding the deal's timing and financial details.