The Korea Trade-Investment Promotion Agency (Kotra) has signed an agreement with Petrobras subsidiary Transpetro to cooperate in the shipbuilding equipment manufacturing sector.

As part of the deal, Korea will supply advanced shipbuilding equipment to Transpetro, which in turn will help Korean companies to enter the Brazilian shipbuilding market, Kotra said.

The agency said Korean firms operating in Brazil will be considered domestic suppliers under Transpetro’s fleet modernisation and expansion programme, which is aimed to bolster the Brazilian shipbuilding industry.

Transpetro said the programme would need the advanced technology of Korean companies, according to

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By GlobalData