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S. Korea bidding for Brazil's warship buildup project

All Headlines 09:09 November 18, 2010

SEOUL, Nov. 18 (Yonhap) -- South Korea is seeking to sell 11 warships to Brazil anxious to build up its maritime defense for offshore oil deposits, a government official in Seoul said Thursday.

South Korea's Daewoo Shipbuilding and Marine Engineering, the world's No. 2 shipbuilder, recently submitted a preliminary proposal for the contract worth as much as 4 trillion won (US$3.5 billion), the official said.

"The Brazilian navy has been moving to purchase 11 warships in the form of a government-to-government project since June," the official said on condition of anonymity. "At this stage, specific details for the bid have not been publicized yet."

The official added that the project will take a concrete shape after the new Brazilian government is inaugurated in January. Brazilian President Luiz Inacio Lula da Silva is set to leave office by the end of this year and President-elect Dilma Rousseff is scheduled to take office on Jan. 1.

Italy, France and some European nations are expected to make rival bids for the Brazilian contract, according to the official.


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