Singapore company Jurong to build shipyard in Brazilia

singapore company jurong is investing 500 million reais in the construction of a shipyard in aracruz, in the brazilian state of espirito santo, for the construction of oil ａnd gas production rigs ａnd ship repair. the brazilian press has said that the agreement for carrying out the project had been signed monday between the company ａnd the state government, ａnd the development would be located in an area of some 1 million square metres close to a port managed by companhia docas do espírito santo.
jurong projects 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.
guilherme dias, secretary of state for development, said that there was a need to increase the number of shipyards in brazil ａnd across the world based on demａnd ｆrom oil companies ａnd increased foreign trade.