South Korea is bidding to sell 11 warships to the Brazilian Navy, which is seeking to build its maritime defence of offshore oil deposits.
Daewoo Shipbuilding, a South Korean shipbuilder, recently submitted a preliminary proposal for the $3.5bn contract, a govenment official said.
“The Brazilian Navy has been moving to purchase 11 warships in the form of a government-to-government project since June. At this stage, specific details for the bid have not been publicised yet,” an official said.
The project is expected to take shape after the new Brazilian Government is formed in January 2011, according to the Korea Herald.
Italy and France, amongst other European nations, are also expected to bid for the Brazilian contract.