The South Korean fishing group Insung, along with a Brazilian consortium, is planning the construction of a shipyard in the Rio Grande-Pelotas area, in the southern Brazilian state of Rio Grande do Sul, to cater to Korean fishing vessels operating in the Falklands/Malvinas area.
The information was provided to local media by the press office from Rio Grande do Sul Governor Tarso Genro, who is currently on an official business visit to South Korea to promote trade and investment in his state, just north of Uruguay.
The yard would be used for the maintenance and repair of fishing vessels, particularly those belonging to Insung, one of Korea's leading fishing industry groups, which operates in all oceans including the South Atlantic and Antarctica. An estimated 25 Korean vessels operate in the region.
Once the environmental impact assessments are presented and approved, the construction of the shipyard is expected to begin, and should be fully operational towards the end of the first half of next year.
The Insung shipyard is part of Rio Grande do Sul's investment promotion in the marine industry, considered one of the crucial area for the state's development, taking advantage of the huge offshore hydrocarbons activities forecasted once Brazil begins the full exploitation of its massive sub-salt oil reserves.
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