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Daewoo Shipbuilding nears submarine-export deal with Indonesia

All Headlines 16:23 October 10, 2011

SEOUL, Oct. 10 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. said Monday that it has kicked off exclusive negotiations with the Indonesian government to clinch a 1.2 trillion won (US$1 billion) order to export three submarines.

The world's No. 2 shipyard said it is seeking to complete a deal with the Indonesian defense ministry by November to build three 1,400-ton grade submarines.

In July, Daewoo Shipbuilding and Marine Engineering was picked among financial candidates, including a French company, to export submarines to Jakarta.

Daewoo Shipbuilding said it is also in talks with several Central and South American countries and Southeastern Asian nations to build submarines.


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