Brazil to Invest $500 Million to Build Nuclear Submarine by 2015

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Researched by Industrial Info Resources (Sugar Land, Texas). Brazil will budget about $500 million over eight years to revive its nuclear program, including uranium enrichment and possibly building a $68 million nuclear powered-submarine, which could patrol the vast waters off Brazil's coastline more effectively.

With some of the world's largest uranium reserves, Brazil could save money by fully enriching fuel-grade uranium at home. "Brazil can afford the luxury of becoming one of the few countries in the world to control all the technology of the uranium enrichment cycle," Luiz Inacio Lula da Silva said at a nuclear research facility in Sao Paulo State.

"Why not dream big, and say we want to arrive at the possibility of having a nuclear submarine?” he added.

According to Brazilian authorities, the use of nuclear power would serve as a way to diversify Brazil’s energy sources and meet growing demand in South America’s largest nation and economy.

Brazil has one of the world's largest uranium reserves; Mr. Lula said that Brazil could become one of the few countries in the world to control the entire uranium enrichment cycle.

In June, the Brazilian energy council approved plans to complete the stalled country's third nuclear power plant, the Angra III, along the coast near Rio de Janeiro. (For Details view related May 11, 2007 news article – Electronuclear to Finish Angra III Nuclear Power Station in Brazil).

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