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STX secures Brazil yard jv

STX secures Brazil yard jv

Seoul: Every yard major in the world has eyes on the rapidly expanding energy powerhouse that is Brazil. Samsung Heavy Industries, for instance, has come to an agreement to help oil major Petrobras develop a yard in the South American nation. Now, a subsidiary of STX Offshore and Shipbuilding has also got in on the act.  Norwegian shipbuilder STX Europe ASA, formerly known as Aker Yards before STX bought it out two years ago, said Thursday it agreed with Brazilian company PJMR to set up an offshore and specialised vessels shipyard in Fortaleza, Brazil.
To meet the increasing demand for construction of more complex vessels in Brazil, the subsidiary STX Norway Offshore AS together with the Brazilian partner will invest around US$100m over three years, the company said.
The production capacity is estimated at around 20,000 tons of steel per year. The total yard area is 320,000 sq m.
Production start is planned within two years. The new shipyard will have about 1,500 employees. [05/03/10]

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