Daewoo to bid on Indonesian submarine deal

June 9, 20009, Jakarta -- South Korea's Daewoo International Corp. (KSE:047050), said Sunday it plans to bid for a contract worth about US$1.2 billion to build two diesel-powered submarines for Indonesia.

Daewoo International has said it will submit specifications to supply two 1,400-ton diesel electric Type-209 submarines to Jakarta.

The hulls of these vessels could cost $350 million apiece with critical sonar and combat management systems pushing the total price to $600 million.

The ships to be built are a modified version of the Chang Bogo class currently in service in the South Korean Navy. Seoul operates nine such vessels that were built in the country using designs provided by Germany's Howaldtswerke-Deutsche Werft (HDW).

(ANTARA News/Asia Pulse)

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