Seven Groups Show Interest in Petrobras Dry Dock Project

Brazil's federal energy company Petrobras (NYSE: PBR) has received proposals from seven groups to build a dry dock for the construction and maintenance of platforms and ships used by Petrobras in offshore oil production, news service Agencia Estado reported.

The dry dock would be built and operated by private companies on Petrobras-owned real estate that will leased to the winning bidder.

The companies interested in participating in the tender are Brazilian engineering firms Odebrecht, OAS, Camargo Correa, Queiroz Galvao and Andrade Gutierrez as well as shipbuilders Renave and Rio Grande.

Consulting and investment company Rio Bravo is managing the tender.

The construction of the dry dock could cost US$100-150mn, the news service reported, up from the US$80mn initial estimates for the dry dock cost.

The contract should be signed by mid-June and construction should take two years.

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