Keppel eyes controlling stake in Brazilian shipyard

Singapore: Keppel Corp is reported to be in negotiations with Brazilian construction group WTorre that will boost its offshore portfolio for FPSO and rig construction through the purchase of a 70% stake in a Greenfield shipyard project located at Rio Grande.

'We are conducting a feasibility study. No decision has been made,' a Keppel spokesperson told local media. Newswire Dow Jones, has quoted a WTorre spokesperson as saying, 'We're in advanced - but not conclusive - talks with Keppel.

The move, if approved, will add a third base for Keppel in the country, supplementing facilities in Angra and Niteroi, and is likely to see the company increase its relations with Brazilian energy giant Petrobras.  [29/06/09]