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POSCO Daewoo to Supply Equipment Worth $150 Million to Indonesia’s State-run Shipbuilder

POSCO Daewoo
POSCO Daewoo CEO Kim Young-sang and PT PAL CEO Firmansyah Arifin pose after signing a memorandum of agreement (MOA).

POSCO Daewoo said on August 4 that it has signed a memorandum of agreement (MOA) to supply shipbuilding materials worth US$150 million to Penataran Angkatan Laut (PT PAL), Indonesia’s largest state-run shipbuilder.

Under the contract, the Korean trading company will supply engines and other parts necessary for shipbuilding, and its partner PT PAL is going to build 10 patrol boats and one combat support ship with the provided materials before delivering them to Indonesian ministries including the Indonesian Navy and the Ministry of Communication and Information Technology.

Earlier, POSCO Daewoo built two of four Landing Platform Docks (LPD) for which it signed with the Indonesian Navy in 2003 in cooperation with PT PAL from 2006 to 2010 through technology transfers including design drawings and personnel training.

Since 2014, POSCO Daewoo has also provided materials needed for constructing two LPDs, which PT PAL will deliver to the Philippine Navy.

The Original Posted by Jung Min-hee/Business Korea