OSX Taps State Fund for $1.7bn Shipyard

OSX Taps State Fund for $1.7bn Shipyard

Brazil Loans

Brazil`s OSX will raise much of the $1.7bn required to build a new state-of-the art shipyard by tapping into the government supported Merchant Marine Fund, says Roberto Monteiro, the company’s CFO. "Part of the Brazilian growth plan is to foment this industry because it is labor intensive," he tells LatinFinance. "The Treasury is funding the Merchant Marine Fund almost on a yearly basis and the fund lends at 2 to 4% in US dollars flat or fixed," he adds. OSX, the oil services company controlled

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