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DSME aims for $10bn orders this year

DSME aims for $10bn orders this year

Seoul: Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipbuilder, said Monday that it aims to win orders valued at $10bn this year.

In a regulatory filing, the shipyard also said it expects this year's sales to reach more than 13 trillion won ($9.8bn), as it builds more vessels at higher prices. It did not provide comparable yearly figures.

The State-run Korea Development Bank and a state asset manager are seeking to wrap up the sale of a 50.4% stake in the shipyard to the Hanwha Group, but a dispute over prices has hampered the deal.

The group has reportedly offered more than 6 trillion won, but asked to pay for the stake in installments amid concerns it may face difficulty in raising funds. [5/1/09]