£128M deal for Indonesian submarine rescue
UK Export Finance backed a £128 million package to export submarine rescue systems to the Indonesian Navy, supporting about £67 million of UK supply‑chain activity. The financing shows active international project support and manufacturing collaboration tied to Indonesian defence infrastructure. The transaction was highlighted in social-briefing coverage. (x.com)
Britain’s export credit agency has backed £128 million in financing for two submarine rescue system deals for the Indonesian Navy. (gov.uk) UK Export Finance announced the support on April 10, saying the package covers two contracts for British-made submarine rescue vehicle systems. The agency said the deals should generate more than £67 million for the United Kingdom economy through supply contracts led by Submarine Manufacturing and Products Ltd and Forum Energy Technologies Ltd. (gov.uk) Submarine rescue systems are the gear used when a submarine is disabled underwater and its crew cannot surface on their own. In this case, one contract centers on Submarine Manufacturing and Products’ SRV-F rescue submersible and a new mothership, while Forum Energy Technologies is supplying a rescue system rated to 610 meters. (gov.uk; smp-ltd.com; financialcontent.com) The British government said Submarine Manufacturing and Products’ work will add more than £39 million to the domestic supply chain through training, ship design, and other contracts. It said Forum Energy Technologies’ contract will add another £28 million, with both projects supporting jobs across maritime and defence manufacturing. (gov.uk) Indonesia’s need for dedicated rescue capacity has been under sharper focus since the loss of KRI Nanggala-402 in April 2021. President Joko Widodo said on April 25, 2021 that the navy had raised the submarine’s status from missing to sunk, and all 53 crew members were later confirmed dead. (setkab.go.id; cnbc.com) Trade and defence ties between London and Jakarta have also widened over the past year. In December 2025, the two governments announced a £4 billion maritime agreement, and in March 2024 Indonesia signed with Naval Group and PT PAL for two Scorpène Evolved submarines to be built in Indonesia. (gov.uk; naval-group.com) UK Export Finance said it has backed more than £6.6 billion of advanced manufacturing investment over the last two years. This Indonesia package shows how that support is being used on defence exports that combine British equipment, financing, and local shipbuilding in Southeast Asia. (gov.uk) The next step is delivery: one rescue system will be built around a British rescue vehicle that can be moved by air or sea, and the other will add deep-water rescue equipment for the Indonesian fleet. For Jakarta, the contracts add a permanent rescue capability that it did not have when Nanggala went down in 2021. (gov.uk; smp-ltd.com; navalnews.com)
