Thursday, July 21, 2011

Daewoo may win Indonesia's submarine project

Indonesia's Goverment is close to picking Korea's Daewoo Shipbuilding and Marine Engineering (DSME) as the priority negotiating partner for a submarine project worth US$1.08 billion.

Once the deal is secured, DSME will sell three 1,200-t 209-class submarines to the Southeast Asian country. It would be Korea's biggest arms export, more than double the value of the $400 million export of T-50 supersonic trainer jets to Indonesia and similar to last year's total arms exports of $1.19 billion. Daewoo was up against powerhouses like Germany, France and Russia to win the contract.

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