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Wednesday, July 08, 2009

Indonesian Redtape Torpedoes Sub Sale Bid

Chang Bogo-class submarineFollowing a failed attempt to sell the T-50 supersonic trainer jet to Iraq earlier this year, Korea's attempts to sell submarines are also being torpedoed.

Daewoo International, a Korean trading firm, said Tuesday its bid to export two domestic submarines to Indonesia has not been successful.

The company joined bidding for the deal, estimated to be worth about $1.2 billion, to supply two 1,400-ton diesel-powered Type-209 submarines to the Indonesian Navy. The subs are made by Daewoo Shipbuilding and Marine Engineering.

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