The U.S. Navy announced that Fincantieri Marinette Marine (FMM) will build a third frigate for its fleet.

Fincantieri Marinette Marine was initially contracted by the U.S. Navy to complete a lead ship in the FFG-62, the USS Constellation, in April of 2020, which was valued at around $536 million. The USS Constellation is nearing the initial start of construction.

FFM was subsequently awarded a second contract to construct another ship, this one being the FFG-63, USS Congress. As of now, FFM will be granted the contract to a third ship in the FFG-64, USS Chesapeake. The USS Chesapeake is a guided-missile frigate named after the original USS Chesapeake, which was launched in 1799.

“We are pleased with the award, and our focus remains on working with the Navy to build the best frigate in the world,” said Fincantieri Marine Group President and CEO Dario Deste.

Fincantieri is almost finished with its $300 million construction and renovation project which is aimed to enable the construction of two frigates per year. One of FMM’s newest buildings, ‘Building 34,’ will allow two 500-foot ships to be finished side by side in a climate-controlled facility.