Daewoo wins $60m order from RI

Sat, 27 Dec 2003, 00:00 WIB | Source: AFP

SEOUL: South Korea's Daewoo International Corp. said on Friday
it had secured jointly secured with affiliate Daewoo Shipbuilding
and Marine Engineering a US$60 million order to rebuild a
submarine for Indonesia.

Daewoo is to deliver the submarine to Indonesia's defense
ministry by 2006 after upgrading its parts.

The company said it expected the deal, the first of its kind
for Daewoo Shipbuilding, to help get "better positioned for
Indonesian Navy's submarine procurement projects" in the future.
-- AFP

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