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Wednesday, September 29, 2010

Hyundai heavy industries to build next-gen S.Korean frigates

Hyundai heavy industriesThe South Korean government on Tuesday picked Hyundai Heavy Industries Co. as the contractor to build the country's next generation frigates.

The selection, made after reviewing bids by three contending companies, were based on ability of the companies to meet the needs of the Navy and price, the Defense Acquisition Program Administration (DAPA) said.

It said a formal contract will be signed within the year with the first ship to be delivered to the Navy in 2014.

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