Nordic Yards has plans for new shipyard in Brazil

Vitaly Yusufov reportedly plans a new yard in the north of Brazil Vitaly Yusufov reportedly plans a new yard in the north of Brazil

DECEMBER 18, 2014 – Russian newspaper Vedomosti reports that German shipbuilder Nordic Yards, together with an unnamed local partner, has set up a Brazilian company, Nordic Yards do Brasil.

Nordic Yards — which is owned by the Russian investor Vitaly Yusufov, the son of a former Energy Minister — reportedly plans to build a shipyard in the Brazilian province of Camocim in the northern Brazilian state of Ceara.

The Vedomosti report ties in with earlier Brazilian media reports saying that Nordic Yards and  the St Petersburg based JSC Shipbuilding Ship Repair & Technology Center (Russia's most prestigious shipbuilding research institute) had filed a letter with the authorities in Camocim and Ceara formally notifying their intention to develop the yard, which would specialize in the construction and repair of large vessels.

Want more? Subscribe now!

News from NASDAQ