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Standard Chartered Bank Is Acting as Financier of the Credit Line Contract of Jurong Shipyard Aracruz, in Espírito Santo
Espírito Santo – This Friday, June 5, SEMBCORP Marine reported that its subsidiary – Jurong Shipyard Aracruz (EJA) has entered into a financing agreement worth US$ 500 million. Techint Construction Company is Accused by the Lava Jato for Engaging in Corruption at Petrobras
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Standard Chartered Bank (Singapore) is acting as the financier, arranger, and original agent of the financing agreement, which is guaranteed by Sembmarine.
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In related news regarding Jurong Shipyard Aracruz, the court in Brazil accepted a complaint of money laundering and corruption against a former SembMarine employee earlier this week, as part of the Lava Jato investigation.
In February 2020, the Federal Public Prosecutor’s Office (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 related to certain drilling platform construction contracts awarded to the company’s subsidiaries by Sete Brasil in 2012.
More precisely, Martin Cheah is the former president of Jurong Shipyard Aracruz, in Espírito Santo, whose employment contract was terminated in June 2015.
Jurong Shipyard Aracruz is located on 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 Vitória.
In 2019, the shipyard carried out the integration of six modules, pipe racks, and flare, and their integration into the FPSO P-68.
