Boldini Awarded Loan Guarantee to Build Ships in US

13 March 2011 (Last Updated March 13th, 2011 18:30)

Brazil-based Boldini SA has received approval from the US Federal Maritime Administration within the Department of Transportation for a loan guarantee to build five ships at Eastern Shipbuilding Group in Florida, US. The $250m loan guarantee will enable Eastern Shipbuilding to build fi

Brazil-based Boldini SA has received approval from the US Federal Maritime Administration within the Department of Transportation for a loan guarantee to build five ships at Eastern Shipbuilding Group in Florida, US.

The $250m loan guarantee will enable Eastern Shipbuilding to build five 282ft-long platform supply vessels that will be used in Brazil's offshore industry.

The work will commence in six months' time and is expected to be complete within three-and-a-half years, according to waltonsun.com.