Jurong to build shipyard in Brazil

Singapore company Jurong is investing 500 million reais ($308 million) in the construction of a shipyard in Aracruz, Brazil, for building oil and gas production rigs and ship repair. The Brazilian press states that the development would be located in an area of some 1 million square metres close to a port managed by Companhia Docas do Esp?rito Santo.

Jurong anticipates that work will begin in mid 2009 and be concluded by 2011. The project will create some 5,000 direct jobs and 3,500 indirect jobs during its construction.