[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering has sealed a 340 billion-won (US$304 million) deal to build a frigate for the South Korean Navy, the company reported on Oct. 11.

Under the deal, the major South Korean shipbuilder will deliver the 2,800-ton frigate by the end of 2020, the company said.

The ship, 122 meters long and 14 meters wide, has a maximum speed of 30 knots, according to the shipyard.

DSME has a record of building a total of 17 submarines, and 44 combat ships and frigates.

With the latest deal, it has won deals valued at $1.3 billion to build 11 ships so far this year.

(theinvestor@heraldcorp.com)