Brazilian naval sector will have BRL 1 billion for investments

The Merchant Marine Fund’s Board of Directors, administered by the Brazilian government through the Ministry of Infrastructure, authorized an investment of R$ 1.028 billion for the naval sector. The resources will be used for the construction, repair, conversion, and modernization of vessels.

Of this total amount, about R$803.8 million will be allocated to the construction of 12 new vessels, and R$ 224,7 million for repair projects. The Merchant Marine Fund provides for the development of both the merchant marine and the shipbuilding and ship repair local industries.