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STX to build new shipyard in Brazil

STX to build new shipyard in Brazil
STX Europe is to build a new shipyard in Fortaleza in Brazil's Ceara state. It will increase STX Europe's shipbuilding capacity for offshore and specialized vessels in response to growing demand in the Brazilian market.

STX Europe to build new shipyard in Brazil.

STX Europe is to build a new shipyard in Fortaleza in Brazil's Ceara state. It will increase STX Europe's shipbuilding capacity for offshore and specialized vessels in response to growing demand in the Brazilian market.

STX Norway Offshore AS (subsidiary of STX Europe AS) and its Brazilian partner PJMR plan to invest approximately $100 mill in the yard over a period of three years. The project is expected to benefit from domestic financing on favorable terms, supported by government resources.

"The project is of strategic importance for our business area," comments Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area. "The new shipyard will strengthen our ability to serve our clients in Brazil with increased capacity and capability. The new yard in Ceara aims to serve the growing Brazilian oil and gas market by supplying various types of vessels as offshore and specialized vessels and LPG carriers. We look forward to continuing the good cooperation with our clients and partners in Brazil."

STX Europe entered the Brazilian market ten years ago and in cooperation PJMR has developed a strong position to meet the needs of the oil and gas industry in Brazil. Since the acquisition of the Niteroi shipyard in 2001, STX Europe has delivered more than twenty vessels from the yard, ranging from platform supply vessels to anchor handling tug supply vessels, ROV and pipelaying construction vessels. In the last few months the yard has received orders for three new advanced PSV offshore vessels, and has now eight vessels in the backlog for delivery up to 2013.

www.turkishmaritime.com.tr

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