Daewoo Shipbuilding & Marine Engineering closed in on winning a battleship order from Thailand, further consolidating its leading position in the world defense market.
The Thai government on Tuesday approved the navy’s decision to order a 520 billion won ($463.7 million) frigate from the Korean shipbuilder, according to news reports on Wednesday.
DSME is currently the sole preferred bidder for the deal and is highly expected to sign the final contract as early as August, officials said.
The 3,700-ton ship, which is to be completed and delivered by 2018, will be equipped with stealth functions that can escape radar and sonar detection, as well as underwater combat capacities.
The company is also planning to develop a combat management system compatible with that of conventional Thai battleships, officials said.