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Wednesday, July 11, 2007

Brazil to invest $500 mln in nuclear-powered sub

Free Image Hosting at www.ImageShack.usBrazil will invest $500 million to revive a long-stalled navy project to build a nuclear-propelled submarine, President Luiz Inacio Lula da Silva said on Tuesday.

"We are going to apply the necessary resources to conclude this project," Lula said at a nuclear research facility in Sao Paulo state.

The project requires 1 billion reais ($500 million) invested over eight years, he said.

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