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Sunday, June 07, 2009

Daewoo in running for Indonesia sub contract

Changbogo-class (Type 209)Daewoo International Corp., a major Korean trading company, said yesterday it was bidding to export two submarines to the Indonesian navy this year. The company is pushing to boost its arms sales.

If Daewoo succeeds in clinching the deal -- which could be valued at $1.2 billion -- it would be the first time that Korea will have sold submarines to a foreign country.

They said Daewoo is competing with three countries -- Russia, Germany and France -- for the tender, whose official bidding date has been set for June 17.

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1 comment:

  1. Pete8/6/09 10:19

    Looks like Russia's offer of 2 Kilo's to Indonesia, on easy credit, made in 2007, has fallen through.

    I suspect that the collapse in the price of oil, Russia's main earner, restricts its ability to offer easy credit.

    So Russia cannot afford to keep its end of the 2007 Kilo bargain.

    Pete

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