Singapore Yards Alleged to Be Part of Brazil Bribe Scandal
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Singaporean shipbuilders Keppel Fels Ltd. and Jurong Shipyard Pte. are sinking deeper into a graft scandal that has transfixed Brazil and buffeted local oil industry suppliers.
Keppel Fels and Jurong, a unit of Sembcorp Marine Ltd., were among a group of companies that allegedly paid bribes through intermediaries to win contracts to build 21 deep-water drilling vessels for about $800 million each, according to testimony released Friday by a Brazilian court. The contracts were awarded by Sete Brasil, a company set up by a group of Brazilian banks and Petrobras to build deep-water rigs and then lease them to the state-controlled oil producer.