Perseverance Pays Off
After several years of talks being on the shelf, Toyo Setal scored a major victory in Brazil with its securing of a bid to complete the construction on Petrochemical Complex of Rio of Janeiro. The freshly inked agreement was signed in September of 2019 and marks a renewed working relationship between Toyo Setal and Petrobras, the latter of which has been a outstanding client for quite some time. This makes the partnership a natural fit according to commercial manager, Rafael Ribeiro de, who noted ‘Petrobras was traditionally one of their largest customers.
Picking Up the Pieces
Assuming the responsibility of building the Petrochemical Complex of Rio of Janeiro required a detailed assessment of the progress already made on the project. To accomplish this, they dispatched a diverse mix of specialists to examine both where the project was and what would be necessary to complete it. According to the Brazil based business website, Veja, completion of the project is expected to be due in 18 months.
Striving to Create Economic Opportunity
Having faced an uphill battle economically since the pause of construction means that announcement of Toyo Setal resuming work on the project was welcomed with open arms by the citizens of the surrounding area. Estimates are that the project is set to create roughly 5,000 new jobs for residents in the municipality of Itaboraí. Thus, helping to reinvigorate the struggling local economy by providing residents with new job opportunities.
Information on Toyo Setal
Toyo Setal operates primarily in the oil, gas, mining,and steel industries working with both the private and public sector to create unique integrated solutions for each client. With global experience, a highly skilled team of staff, and proven track record of excellence, the firm has become an industry leader in its home base of Brazil and beyond.