The Vitaly Yusufov-controlled company, which has three yards in Germany, has established Nordic Yards do Brasil with an unnamed Brazilian partner.
It will construct a EUR 300m ($369m) plant in Camocim, Russian daily Vedomosti reported, citing a Nordic Yards representative.
The timeframe was not disclosed, but the yard will build and repair ships.
The company believes it may win financial assistance from the Brazilian government as the north of the country is deemed important for strategic growth.
Nordic
