ANNOUNCEMENT 15 Dec 2014
The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of BRL 50.1 million to ETESCO Construções e Comércio Ltda.
NUMBER OF INTERVENTIONS
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Projetos contratados e valores liberados. Retrieved on 02/05/2018. Available at: http://finep.gov.br/acesso-a-informacao-externo/transparencia/projetos-contratados-e-valores-liberados
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Financiamento Reembolsável. Available at: http://finep.gov.br/component/content/article/120-apoio-e-financiamento/tipos-de-apoio/financiamento-reembolsavel/42-financiamento-reembolsavel
On 15 December 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of BRL 50.1 million (USD 18.6 million at the time of the measure) allocated to ETESCO Construções e Comércio Ltda., a local company engaged in the construction of gas pipelines, refineries, roads and highways, and tunnels. The objective of these resources is to finance a project dedicated to the development of a Semisubmersible Platform with Exclusive Dedication for Light Workover Services or Intervention Operations of Ultra Deep Water.
The repayment deadline for the credit has been set to 15 June 2017.
The resources enclosed on the programs managed by FINEP are limited to Brazilian companies and seek to boost the national and international competitiveness of these businesses.
The interest rates set on the credit lines are composed of the long-term interest rate (TJLP) plus a supplement ranging between 1.5% and 7%, depending on the credit line and the repayment period.