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World Briefing / BRAZIL

$160-million plan for nuclear sub

August 30, 2008|From Times Wire Services

Brazil will spend $160 million by the end of next year on the development of a nuclear-propelled submarine to protect the oil reserves found recently off its coast, the defense minister said.

The vessel, which officials hope to be complete by 2020, would be the first such submarine in Latin America. Brazil does not have nuclear weapons.

It is believed to be preparing to spend $3.5 billion by the end of 2010 to upgrade its weapon systems. Defense Minister Nelson Jobim said the new defense plan included provisions for a massive technology transfer from France.

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