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Monday, September 01, 2008

Brazil Spending US$ 160 Million for Nuclear Sub to Protect Oil Fields

The Brazilian government should spend US$ 160 million by the end of next year on the development of a nuclear-powered submersible to protect the oil reserves found recently off its coast, said Brazil's Defense minister Nelson Jobim on Friday.

The vessel, which officials hope to be complete by 2020, would be the first nuclear-powered submarine in Latin America and is being developed with Brazilian technology and lately French assistance.

Brazil does not have nuclear weapons. The submarine is the highlight of the Brazil's new defense plan, which is to be made public on September 7, Independence Day.

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