CDFMM approves R$ 2 billion for naval financing in 2021

The CDFMM (board of directors of the merchant marine fund) now has R$ 2 billion available for financing in the naval sector in 2021. At the 47th ordinary meeting of the CDFMM, four more projects were approved: two for vessel repairs (new) and two for the construction of shipyards (re-submitted), and has R$ 4.1 billion available for the year 2022. In March, the CDFMM had already prioritized more than R$ 500 million for a series of other projects.

Administered by the Ministry of Infrastructure, through the Department of Infrastructure Development of the Secretariat for Development, Planning, and Partnerships, the FMM (merchant marine fund) aims to provide resources for both developing the merchant marine and for industries that construct and repair ships in Brazil.

Through it,  90% of the value of the projects can be financed such as for the construction, modernization, and repair of vessels and shipyards. The next regular meeting of the CDFMM is scheduled for November 25 and interested parties have until September 26 to submit projects for priority funding.

Approved projects:

New

Repair for class certification of an AHTS vessel: R$ 5.7 million

Repair and maintenance of two FSV-type vessels – UT-4000: BRL 15.3 million

Resubmitted

Shipyard construction: R$1.46 billion

Supplementation of resources for the construction of a floating dike: R$5.8 million

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