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| PT PAL, Indonesia's state-run shipbuilder |
By Lee Hyo-sik
POSCO Daewoo has signed a $150 million contract with PT PAL, Indonesia's state-run shipbuilder, to supply engines and other parts for the latter's patrol boats and other naval vessels.
The trading arm of steelmaker POSCO held a ceremony, Wednesday, in Jakarta, where CEO Kim Young-sang signed a memorandum of agreement with PT PAL CEO Firmansyah Arifin.
Under the deal, POSCO Daewoo will provide the Indonesian shipbuilder with various components necessary for building 10 patrol boats and one combat support ship over the next few years. Once completed, the ships will be delivered to the Indonesian Navy.
Read the full story at Korea Times