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Hyundai Rotem inks 900 bln won tank deal in S. Korea

All Headlines 13:58 December 29, 2014

SEOUL, Dec. 29 (Yonhap) -- South Korean tank maker Hyundai Rotem Co. said Monday it has signed a deal to supply 901.5 billion won (US$820.29 million) worth of battle tanks to the country's arms procurement agency.

Under the agreement signed with the Defense Acquisition and Procurement Agency (DAPA), Hyundai Rotem will build and provide the South Korean main battle tank, the K2 Black Panther, to the local army by 2017, the company said.

The deal marks the second time for the tank maker to supply the battle vehicles to DAPA.

The combat vehicle will be comprised of a 1500-horsepower power-pack, in which the engine and transmission will be developed by Doosan Infracore Co. and S&T Dynamics Co., respectively, according to Hyundai Rotem.

With the latest deal set in motion, Hyundai Rotem said it hopes to "actively push for exports of the K2 Black Panther tanks and other types of combat vehicles."

"The company is planning to take part in the 2015 International Defence Exhibition & Conference to be held in the United Arab Emirates in February, and push forward our business with clients from the Middle East as well as North Africa," a Hyundai Rotem official said.


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