Daewoo eyes $1.1 bn submarine deal with Indonesia by Nov

Daewoo eyes $1.1 bn submarine deal with Indonesia by Nov

Seoul: Daewoo 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 defence ministry and marine," Daewoo said in a statement.

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