[
THE INVESTOR]
POSCO Daewoo announced on Aug. 4 that it has signed a memorandum of agreement with Indonesia’s largest shipyard PT PAL to supply materials for shipbuilding worth US$150 million.
The Korean trading company will provide materials, including vessel engines, to the state-owned shipyard which will build 10 patrol ships and one combat support ship for delivery to the Indonesian Navy and ministries.
 |
POSCO Daewoo |
“We have been recognized for our capabilities demonstrated by previous projects such as technology transfer for building landing ship docks for the Indonesian Navy from 2006 to 2010,” said Kim Young-sang, president and CEO of POSCO Daewoo.
“We will expand our business into marine platforms, fishing vessels and ferries.”
“As the Indonesian government will reshuffle our six state-owned shipyards centered around PT PAL, we expect to collaborate more with POSCO Daewoo,” said Muhammad Firmansyah Arifin, president of PT PAL.
By Hwang You-mee (
glamazon@heraldcorp.com)
