Korea Daewoo Shipbuilding Gets KRW578.9B Drilling Rig Order

SEOUL, Jul 24, 2007 (Dow Jones Commodities News)

South Korea's Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said Tuesday it has received a KRW578.9 billion ($633 million) order from a Latin American country to build a semisubmersible drilling rig by August 2010.

The drilling rig will be delivered to the unidentified company by August 31, 2010, said a company spokesman.

The world's third-largest shipbuilder by order backlog has received $12.5 billion worth of orders, including the drilling rig, so far this year, he said.

Copyright (c) 2007 Dow Jones & Company, Inc.

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