Indonesia Awards $1.1 Billion Submarine Contract To DSIM

Daewoo Shipbuilding and Marine Engineering has won an order for three submarines from Indonesia making this the single biggest arms sales deal by a Korean firm and the value of the contract is approximately 1.1 billion dollars with the submarines scheduled to be delivered in the first half of the year of 2018. This contract is comprised of three 1,400 ton class diesel-powered submarines with each one measuring 61.3m from stern to bow with the ability to carry 40 crew. These submarines will be fully armed with eight weapon tubes able to discharge all kinds of torpedoes, mines, and guided missiles. The President and CEO of DSME Mr. Sang-Tae Nam said, “We have now secured a foothold in the submarine business in Southeast Asia and we look forward to additional orders based on this contract”. DSME has won a total of 14 submarine contracts, including this contract, at home and abroad. The company has also been awarded 15 depot maintenance and performance improvement contracts in Korea and 2 contracts from abroad. Based on these achievements, DSME is raising its profile as a strong company in the submarine building market. This latest contract puts DSME’s 2011 secured orders at 52 vessels, special ship, and offshore platforms worth USD 14 billion and exceeds the sales target by 30%.Daewoo Shipbuilding and Marine Engineering has won an order for three submarines from Indonesia making this the single biggest arms sales deal by a Korean firm and the value of the contract is approximately 1.1 billion dollars with the submarines scheduled to be delivered in the first half of the year of 2018. This contract is comprised of three 1,400 ton class diesel-powered submarines with each one measuring 61.3m from stern to bow with the ability to carry 40 crew. These submarines will be fully armed with eight weapon tubes able to discharge all kinds of torpedoes, mines, and guided missiles. The President and CEO of DSME Mr. Sang-Tae Nam said, “We have now secured a foothold in the submarine business in Southeast Asia and we look forward to additional orders based on this contract”. DSME has won a total of 14 submarine contracts, including this contract, at home and abroad. The company has also been awarded 15 depot maintenance and performance improvement contracts in Korea and 2 contracts from abroad. Based on these achievements, DSME is raising its profile as a strong company in the submarine building market. This latest contract puts DSME’s 2011 secured orders at 52 vessels, special ship, and offshore platforms worth USD 14 billion and exceeds the sales target by 30%.