South Korea's Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering are confirmed on 17 November that they are the final bidders for UK's naval support ships project.
Defense industry player said, "Hyundai and Daewoo became the final bidders for UK's naval projects, leaving Fincantieri of Italy behind."
Added, "Korea is likely to finalize this contract, showing that Korean shipbuilders also lead defense sector."
The ships are to transport ammunitions, commodities, etc., and supply military forces. This project covers four 15,000-dwt newbuilding naval support vessels, valued at $800m.
Published : November 17, 2011
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