Rolls-Royce unveils plans for further investment in Brazil

7th Apr 2014 14:33

Rolls-Royce and UK Chancellor George Osborne on Monday jointly announced that the company will invest in Rio de Janeiro State, Brazil, constructing a new marine facility to aid the expansion of the offshore oil and gas industry.Construction on the £22m facility will begin in May and will be used to assemble and test large thrusters and other propulsion equipment for use on semi-submersible rigs, drill ships, and other complex offshore vessels. Delivery of the first set of UUC 405 thrusters, for seven drill ships being built by a Brazilian shipyard, will start in June of 2015.Francisco Itzaina, Rolls-Royce's Regional Director of South America, said: "Rolls-Royce has long been committed to the development of Brazil's energy sector. This latest facility enables us to more closely support our marine customers' investment and operational needs as they contribute to the development of Brazil's deepwater oil and gas exploration and production activities."Rolls-Royce welcomes any government initiative that aims to promote exports, especially from high-skills manufacturing industries. UK export finance has an important contribution to make in backing business and any expansion of its role would be a significant move."It is the second investment Rolls-Royce has made in the expansion of its marine capabilities in Brazil this year, having last month opened a £2m customer training centre in Rio de Janeiro. The Chancellor said that "a central part of the government's long-term economic plan is to back British companies that are seeking to export more and help them secure success in emerging markets".NR