Daewoo bids for Indonesian submarine contract

South Korean shipbuilder Daewoo International said that it would participate in the bid to build two diesel-powered submarines for the Indonesian Navy. Daewoo said it would submit specifications to supply two 1,400-tonne Type-209 submarines in a potential contract worth $1.2 billion. The submarine?s hulls each cost $350 million and will be equipped with $250 million worth of critical sonar and combat management systems.