Daewoo to provide Indonesia with armored vehicles

November 11th, 2010 - 11:12 pm ICT by BNO News  

SEOUL, SOUTH KOREA (BNO NEWS) — Daewoo International Corp. on Thursday announced that it will be providing Indonesia with armored vehicles worth some $70 million.

According to the deal, reported by Yonhap news agency, Indonesia’s Defense Ministry will be supplied with the armored vehicles by the end of 2013 as Daewoo International started producing them this month.

“We received great assistance from the Defense Acquisition Program Administration (DAPA)’s military diplomacy and the Export-Import Bank of Korea’s financial support in concluding the deal,” the company said.

DAPA is South Korea’s weapons procurement agency.

Daewoo International also said it signed an $80 million deal with the Indonesian Navy to maintenance submarines and a $40 million deal with the country’s Air Force to provide aircraft for pilot training over the past year.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |