Jurong Aracruz shipyard, in Espírito Santo, acquires a US$500 million financing contract

Standard Chartered Bank is acting as a financier of the credit line agreement for Estaleiro Jurong Aracruz, in Espírito Santo

Espirito Santo – This Friday, June 05, SEMBCORP Marine informed that its subsidiary – Estaleiro Jurong Aracruz (EJA) signed a financing agreement worth 500 million dollars. Construtora Techint is accused by Lava Jato of corruption at Petrobras

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Standard Chartered Bank (Singapore) is acting as the original financier, arranger and agent for the financing agreement, which is guaranteed by Sembmarine

In news related to Estaleiro Jurong Aracruz, the court in Brazil accepted a money laundering and corruption complaint against a former SembMarine employee earlier this week, as part of the Lava Jato investigation.

In February 2020, the Federal Public Ministry (MPF), filed complaints against Guilherme Esteves de Jesus (GDJ Banco do Brasil) for money laundering and former SembMarine employee Martin Cheah Kok Choon for money laundering and corruption in relation to certain drilling rig construction contracts contracted by the company's subsidiaries with Sete Brasil in 2012.

More precisely, Martin Cheah is the former president of Estaleiro Jurong Aracruz, in Espírito Santo, whose employment contract was terminated in June 2015.

Estaleiro Jurong Aracruz is located in an area of ​​82,5 hectares with a coastline of 1,6 km in the municipality of Aracruz, in the state of Espírito Santo, 80 km north of the capital of Vitória.

In 2019, the shipyard performed the manufacturing integration of six modules, pipe-racks and flare, and their integration to FPSO P-68.