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Monday, February 07, 2011

Brazil and UK ready to sign huge defence contract, say media reports

Type 26 frigateBrazil with a defence market described as “one of the fastest growing in the world” will be signing a defence agreement with the UK which should open the way for a deal worth “billions of dollars”, according to reports in the Brazilian and UK media.

If the agreement finally goes through a first deal could involve £ 2.9 billion which includes the purchase of six patrol vessels (£ 60 to £ 80 million) and five or six frigates Type 26 with a unit cost of £ 300 to £ 400 million, similar to those of the Royal Navy.

The main reason behind the strong Brazilian defence investment is the massive development of the offshore oil industry and its pre-salt deposits which could make the country one of the world’s main producers and exporters.

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