Singapore's Sembcorp Marine to build shipyard in Brazil

Singapore's Sembcorp Marine , the world's second largest offshore oil rig builder, said on Thursday it has bought land for a new shipyard in Brazil.

The freehold site of 825,000 square metres is near the Espirito Santo Basin, which is one of the country's recently discovered offshore giant pre-salt oil basins. Sembcorp Marine declined to reveal the cost of the land.

Source: http://malaysia.news.yahoo.com