|Kawasaki Heavy to build ships in Brazil|
|Tuesday, 29 May 2012 12:00|
Kawasaki Heavy Industries Ltd. will acquire a 30% interest in a Brazilian shipbuilder for an estimated 2 - 3 billion yen, with plans to produce vessels for exploratory offshore drilling.
The Japanese firm has reached a basic agreement to take the equity stake in Estaleiro Enseada do Paraguacu SA in stages. The shipbuilder was established by Odebrecht SA and two other major general contractors in Brazil. The joint venture plans to build a roughly 90 billion yen shipyard in the northeastern Brazilian state of Bahia.
Source: Nikkei Weekly
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