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Brazil sets 10 bln real ship building credit line
by Luiz Castro | October 7, 2008 at 04:29 pm | 55 views | 1 comment | 2 recommendations
Dilma Rousseff is the favorite Lula da Silva's candidate for his succession. Dilma has little popular support, recent pools has shown Dilma with less than 10% of the voting intentions. Will this "little" help of public funds boost her campaign?
The Brazilian government will throw its emerging ship-building industry a 10 billion real line of credit to weather the global financial turmoil that has limited credit, government Chief of Staff Dilma Rousseff said on Tuesday.
Ship building has been one of the favored industries of the administration, which passed a national content law requiring oil companies like state-run Petrobras to use more locally built ships and production platforms.
"At this moment of tight credit, making 10 billion reais available is something strategic for this industry," said Rousseff.
Brazil is expected to invest heavily in the coming decades to develop the recently discovered subsalt oil and gas fields off the southeast coast, that could contain more than 50 billion barrels of light oil and natural gas
October 7, 2008 at 04:29 pm by Luiz Castro, 55 views, 1 comment
Most RecentMost Recommended Comments (1)
at 22:00 on October 7th, 2008
Luiz Castro, I like this story. It's good stuff.