Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, said Thursday that it has clinched a 30 billion-won ($26.7 million) deal from Indonesia's Navy to provide maintenance and upgrade services for one of its submarines.
Under the deal, Daewoo Shipbuilding will work with Indonesia's largest shipyard, PT. PAL, on the maintenance of a submarine operated by the Indonesia's Navy by 2020.
Early this month, Daewoo Shipbuilding handed over a 1,400-ton diesel-electric submarine to the Indonesian Navy, becoming the first South Korean company to export a submarine.
This photo shows the 1,400-ton submarine that Daewoo Shipbuilding & Marine Engineering Co. delivered to the Indonesian Navy on Aug. 2, 2017. (Yonhap)
The boat is the first of three submarines commissioned by the Southeast Asian country under a 2011 deal worth $1.1 billion.
The second submarine is under construction with the plan to be completed within the year, and the third one will be assembled by 2018.
Early this week, Daewoo Shipbuilding also won a 215 billion-won deal to supply key parts for a submarine built by its local rival Hyundai Heavy Industries Co.
Since 1987, Daewoo Shipbuilding has secured deals to build 17 submarines, including the three placed by Indonesia.
Daewoo Shipbuilding has delivered 12 submarines so far, with five under construction. (Yonhap)