Batista’s OSX May Borrow 2.7 Billion Reais for Shipyard

Bloomberg reports that OSX Brasil SA (SAO:OSXB3) said it gained approval for financing from a government-run fund and it may borrow $1.7 billion.

The market news is quoted as saying,

Batista, the world’s eighth-richest person with $30 billion according to Forbes magazine, is building what he says will be the world’s third-biggest port in the southeastern state of Rio de Janeiro. The Acu port project, scheduled to begin operations in the second half of next year, will handle iron-ore, oil, coal and steel from Batista’s companies and partners including Anglo American Plc.

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