O Estaleiro Rio Grande será salvo! Credores aprovam plano de recuperação

Shipyard Rio Grande Will Be Saved! Creditors Approve Recovery Plan

Written by Paulo Nogueira

Published on 28/06/2018 at 08:54

Updated on 28/06/2018 at 09:19

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After An Intense Assembly With The Creditors Of Ecovix, Its Shipyard Will Now Be Able To Resume Activities

Great and sensational news for the Estaleiro Rio Grande, which belongs to Ecovix in Brazil. Its creditors showed sensitivity and allowed the plan to recover the company, along with one of its largest naval hubs in Brazil, in Rio Grande Do Sul. The majority voted in favor, with 84 votes for and 11 against the project; this session lasted about 4 hours on June 26. The idea is that this project can serve as a precedent for other idle shipyards across Brazil.

The total amount of Ecovix’s debts at this time is over 7 billion reais. Until now, the shipyard’s facilities have been abandoned due to a lack of projects and contract projections. With this decision made, the risk of the shipyard’s bankruptcy has diminished, allowing for the acquisition of new contracts for the shipbuilding industry in Rio Grande do Sul. Although confidential, Ecovix has been seeking to resume the following service modalities with other companies:

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How The Crisis At Ecovix Started

To recap, Petrobras hired Ecovix in 2010 to build 8 platform hulls, and after 3 years, the activities were interrupted when the Lava Jato operations were initiated, practically halting all of the state-owned company’s activities at that time. By the end of 2016, the project, which cost more than 9 billion reais, was aborted, causing mass layoffs of over 3 thousand workers.

Shipyard Rio Grande Will Be Saved! Creditors Approve Recovery Plan

After An Intense Assembly With The Creditors Of Ecovix, Its Shipyard Will Now Be Able To Resume Activities

How The Crisis At Ecovix Started

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Shipyard Rio Grande Will Be Saved! Creditors Approve Recovery Plan

After An Intense Assembly With The Creditors Of Ecovix, Its Shipyard Will Now Be Able To Resume Activities

How The Crisis At Ecovix Started

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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