Bangkok: NCL, alongside its subsidiary Golden Supply, has signed a contract with Navantia, a Spanish state-owned shipbuilding enterprise, to manage and support two Royal Thai Navy projects worth over 470 million baht, aiming to boost revenue growth in the third quarter of 2025.
According to Thai News Agency, Mr. Phongthep Wichaikul, Chief Executive Officer of NCL International Logistics Public Company Limited (NCL), announced that Golden Supply Co., Ltd., a wholly-owned subsidiary of NCL, has entered into an agreement with Navantia for the management and support of two Royal Thai Navy projects in Thailand. The contract is valued at approximately 470 million baht, encompassing the maritime operations capability enhancement project worth 2.25 million euros (84.86 million baht) and the HTMS Pattani-class offshore patrol vessel capability enhancement project, valued at 10.25 million euros (381.61 million baht). These initiatives are expected to contribute to the continued growth of the NCL Group, particularly in the third quarter of this year.
Navantia, a Spanish state-owned shipbuilding enterprise, has undertaken a contract to supply combat management systems and related systems to the Royal Thai Navy, with a total value of 3.7 billion baht. NCL, acting as Navantia’s partner and local service provider in Thailand, will oversee and support Navantia’s projects, receiving a management fee of about 470 million baht as part of the agreement, stated Mr. Phongthep.
Navantia, originally known as Bazan, ranks as the fifth largest shipyard in Europe and the ninth largest globally. The company is engaged in civil and military shipbuilding, advanced system design, and the construction of structures for renewable energy sectors, including wind, offshore, and hydrogen. Established in 2005, Navantia designs, builds, and supports a wide range of surface ships, submarines, and systems, employing nearly 5,000 people across its facilities in La Coru±a, Cadiz, Cartagena, and Madrid. Navantia is also known for constructing the HTMS Chakri Naruebet for the Royal Thai Navy.