Frogman
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Still its a costly ship bro. You get whole new frigate at that cost.
The acquisition of advanced ship building technology in itself is more valuable than the Corvettes. Not only will Alexandria shipyard be able to build Corvettes in the near future as a result of this deal but it is already being upgraded in order to build frigate sized vessels with the Chinese by 2020-2023.
In contrast the Malaysian Navy is paying $2.5B for six similar vessels without any ToT or co-production.