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PT PAL secures more funding for submarine facilities

PT PAL secures more funding for submarine facilities

Indonesia’s House of Representatives (DRP) approved a proposal on 16 September to release IDR1.5 trillion (USD125 million) of state funds to support naval shipbuilder PT PAL’s development of submarine construction capabilities.

The funding remains subject to parliamentary approval but is expected to be made available to PT PAL in Fiscal Year 2015 (FY15). The DPR said the funding is required to enable PT PAL to further invest in “developing facilities, infrastructure, and human resources in preparation to construct submarines”.

In FY14 the Indonesian government announced the release of IDR2.5 trillion to kick-start the PT PAL modernisation programme, which will support the company’s licenced construction of the third of three Chang Bogo-class Type 209/1200 submarines ordered from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) in late 2011.

Read More:PT PAL secures more funding for submarine facilities – IHS Jane’s 360.

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