COOEC interested in partnership with Brazilian shipyard

Chinese yard China Offshore Oil Engineering Corporation (COOEC) has expressed interest in becoming a partner of Brazilian yard Estaleiro Rio Grande based in Rio Grande do Sul.

Estaleiro Rio Grande is currently owned by Ecovix. Estaleiro Rio Grande is hoping to achieve a capital injection of around US$159 million by 2016. According to reports in Brazil, Estaleiro Rio Grande is expecting a loan from the Caixa Economica Federal Bank. It also expected to receive more finance from the Brazilian state shipbuilding fund FMM. Ecovix is controlled by the Engevix group and a consortium of Japanese firms led by Mitsubishi Heavy Industries (MHI), which have a 30 percent shareholding.

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