Italy's Fincantieri, which has been trying to diversify its shipbuilding mix following a steep decline in cruise ship orders, has won a contract from the United Arab Emirates Navy to build two stealth patrol vessels with an option for two others.

The first two 55 metre by 8.6 metre ships will be built in Italy, with delivery scheduled for the second half of  2012, while the two options may be built in the United Arab Emirates.

All four newbuildings will feature advanced stealth characteristics to reduce their detectability and each will be able to exceed 20 knots while accommodating a crew of 28.

Fincantieri has also won a contract to build an ‘Abu Dhabi' class corvette for the UAE Navy.