to sign $1.1 bln submarine deal with Indonesia by November
Shipbuilding & Engineering said on Monday that it aimed to seal
a $1.1 billion agreement with the Indonesian government by November
to build three submarines.
The South Korean shipbuilder said in a statement that this would mark
the first exports of submarines from the country.
"We have launched talks to sign a submarine contract with Indonesia's
defense ministry and marine," Daewoo said in a statement.
of Korea Submarine Chang Bogo - SSK 61.
The 3 submarines for Indonesia will be a custom version of this Type
(picture: US Navy)
According to Korea's
Daewoo Shipbuilding and Marine Engineering on Monday, the shipbuilder
will sign a 1.1 billion dollar contract with Indonesia next month to build
submarines, marking the company's first export order for submarines and
the country's largest single overseas defense contract.
Under the contract, DSME, the world's third-largest and Korea's second-largest
shipbuilder will build three 1,400 ton submarines for the Indonesian Navy.
The Korean shipbuilder said the company and Indonesia's defense ministry
will coordinate details and conclude the deal by November.
DSME had been bidding for the contract against competitors from France,
Russia, and Germany since June this year.