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SHI signs Brazilian yard deal

SHI signs Brazilian yard deal

Seoul: Samsung Heavgy Industries has signed a deal with a Brazilian consortium to build and operate a new shipyard in Brazil at Suape in Atlantico. The Atlantico consortium is planning a $200m yard with a 360-metre dock. The consortium won an order for ten 16,000dwt tankers from Petrobras su8bsidiary Transpetro as part of a mammoth 80-ship order by the state oil company. Samsung will earn royalty income of $14m on the export of ship designs and its know-how. The Korean yard says before it was difficult to break into the Latin American shipbuilding market because of requirements
for bidders on ship construction projects to invest more than 50% in the construction company, but that restriction no longer applies. [28/07/06]

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