S Korea bidding for Brazil`s warship buildup project: Report
South Korea is seeking to sell 11 warships to Brazil, said a report.
Seoul: South Korea is seeking to sell 11 warships to Brazil, which is keen to build up its maritime defences in view of offshore oil deposits, a South Korean government official told Yonhap News Agency here on Thursday.
"The Brazilian Navy has been moving to purchase 11 warships in the form of a government-to-government project since June," the unidentified official was quoted as saying.
"At this stage, specific details for the bid have not been publicised yet."
South Korea`s Daewoo Shipbuilding & Marine Engineering Co, the world`s No 2 shipbuilder, recently submitted a preliminary proposal for the contract worth as much as 4 trillion Won (USD 3.5 billion), the official said.
The official added that the project is expected to take a concrete shape after the new Brazilian government is inaugurated in January.
Companies from Italy, France and other European nations are likely to make rival bids for the Brazilian contract, according to the official.