Recife - The Industrial Port Complex of Suape, in the state of Pernambuco, is going to receive investments totalling US$167 million (R$500 million) for the installation of a shipyard where ships and petroleum platforms will be built.

The shipyard is scheduled to begin operating within two years. It will create 5,000 direct jobs and another 25,000 indirect ones.

The Suape Complex already has 50 kilometers of highways and 41 kilometers of railroad connecting it to a container terminal and storage tanks. It is estimated that an additional 100 firms could do business there, generating investments of US$5 billion by the private sector, which has already installed 70 businesses.

Agência Brasil
Reporter: Márcia Wonghon
Translator: Allen Bennett
08/06/2004