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Monday, March 19, 2012

S Korea’s price hike in sub deal raises Turkish hopes

[Changbogo-class (Type 209)]A German-Turkish joint venture striving to win a contract to build submarines for Indonesia is waiting for word from Jakarta after their South Korean rival raised the price for three submarines it has agreed to build for the country by $300 million, a senior Turkish procurement official said.

South Korea’s Daewoo Shipbuilding and Marine Engineering announced on Dec. 22 that it had won an Indonesian deal for $1.1 billion for three U209 submarines.

But the company in early February unilaterally told its Indonesian counterparts that the price was too low, and increased it to $1.4 billion.

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