By Johan Ahlander
STOCKHOLM, May 19 (Reuters) - Sweden said on Tuesday it had chosen France's Naval Group to supply four new frigates for its navy, with the first delivery expected in 2030 at a total cost of some 40 billion Swedish crowns ($4.25 billion).
The purchase of the French Defence and Intervention (FDI) frigate model will be Sweden's biggest military investment since the 1980s, Prime Minister Ulf Kristersson told a press conference.
Sweden is racing to build up its military in the wake of Russia's invasion of Ukraine and the Nordic country's subsequent accession to NATO, with the new frigates representing a significant expansion of maritime defence capabilities.
The government has requested that several weapons systems developed in Sweden, including by Saab, can be utilised by the vessels, Defence Minister Pal Jonson said.
Each vessel is expected to cost around 10 billion Swedish crowns, depending on the exact weapons systems on board, with the first delivery expected to take place in 2030, Jonson said.
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The right-wing government, one of Ukraine's staunchest backers in Europe, has said it expects to reach NATO targets for military spending of 3.5% of GDP already in 2030, several years ahead of the alliance's deadline.
The new frigates will be the largest surface warships in Sweden's navy and have an expected lifespan of some 40 years, the government has previously said.
Naval won the race in competition with a joint bid by Britain's Babcock and Saab as well as one from Spain's Navantia.
The frigates are seen as a key component of Sweden's air defence and protecting the Baltic Sea. In addition to the four frigates Sweden has five smaller Visby-class corvettes and is currently upgrading its fleet of submarines.
($1 = 9.4037 Swedish crowns)
(Reporting by Johan Ahlander and Soren Jeppesen, editing by Terje Solsvik, Essi Lehto and Niklas Pollard)