Initial funds for Navy's offshore patrol vessel project released
MANILA - The Department of Budget and Management released the initial funding worth PHP3 billion for the Philippine Navy's (PN)'s acquisition of six offshore patrol vessels (OPVs). The Special Allotment Release Order (SARO)-BMD-D-22-0004970, was released to the Department of the National Defense (DND) on Thursday, to "cover the funding requirement for the Offshore Patrol Vessel Acquisition of the Philippine Navy under the Revised Armed Forces of the Philippines Modernization Program." Earlier, DND Secretary Delfin Lorenzana said South Korean shipbuilder, Hyundai Heavy Industr...