Kawasaki Heavy Industries takes stake in Brazilian shipyard

kawasaki brazil yardJapan's Kawasaki Heavy Industries Ltd. is to take a 30 percent stake in Brazilian shipbuilder Estaleiro Enseada do Paraguacu S.A. (EEP).

EEP was established by Brazilian construction giant Odebrecht (with a 50 percent holding) and two other Brazilian companies, OAS and UTC. It is investing just over $1 billion in building a shipyard in Maragojipe, Bahia state. Completion is set for 2014/

Last month EEP was awarded a letter of intent by Sete Brasil covering the construction of six drillships. Sete Brasil valued the order at $4.8 billion and said the drillships would be of Gusto design.

The partnership with Kawasaki was announced May 4 at an event attended by the Governor of Bahia, Jacques Wagner. At the event Kawasaki Heavy Industries president Satoshi Hasegawa, said "We will work with our experience and know-how for the construction of EEP and for its development, making it the world's most modern shipyard, equipped with the latest technology."

May 7, 2012