By Brazil Stock Guide – Petrobras (PETR4.SA) will invest 2.6 billion reais ($500 million) in Bahia to support shipbuilding and restart a key fertilizer plant, according to Broadcast/Agência Estado. The initiative underscores the company’s renewed focus on Brazil’s naval sector and the revival of local fertilizer production.
Company Chief Executive Officer Magda Chambriard will outline the projects in a press conference Wednesday afternoon, ahead of President Luiz Inácio Lula da Silva’s visit Thursday to the Enseada Shipyard in Maragogipe. At the event, Petrobras and government officials will sign a memorandum of understanding to study the use of the São Roque do Paraguaçu yard as a mooring site for decommissioned platforms.
The Enseada Shipyard was chosen in December 2024 as the construction partner of Monaco’s Compagnie Maritime Monegasque, which will supply six hybrid multipurpose vessels (5,000 DWT each, PSV-OSRV type) for Petrobras.
In fertilizers, Petrobras completed a tender in September to hire operators for plants in Bahia and Sergipe. The facilities are expected to resume operations by the end of 2025, bolstering domestic supply of nitrogen-based fertilizers critical to Brazil’s agribusiness.
Also on Thursday, the Ports and Airports Ministry will announce 611.7 million reais ($118 million) in funding for 80 new vessels, including 550.5 million reais from the Merchant Marine Fund. The plan could create more than 2,000 direct jobs, according to the government. So far, four vessels have been delivered and three remain under construction.
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