Belov Group and Caixa Econômica Federal sign unprecedented contract

This Friday, October 2, 2026, the Aleixo Belov Sea Museum in Salvador, Bahia, was the location chosen for the signing of the financing contract for the renovation and expansion of the Belov Shipyard, funded by the Merchant Marine Fund (FMM). Representatives from Caixa Econômica Federal were received by the founder and directors of the Belov Group.

The project value is R$ 73 million, with R$ 66 million financed under a 24-month grace period and a 120-month amortization term. The renovation and expansion project of the Belov Shipyard is already having a positive impact on Bahia's economy by generating 300 jobs during the expansion phase, and it is expected to generate 1,000 new jobs once operations begin on the newly contracted vessel projects at the unit.

Bruno Ribeiro and Renata Gibaut represented Caixa and were welcomed at the Aleixo Belov Sea Museum, who shared a bit of his history and presented the cultural venue's collection before the symbolic contract signing. Representing the board of directors of the Belov Group were Luiz Alberto Sant’Ana (Administrative and Financial), Juracy Vilas-Bôas (Offshore Services), and Sérgio Belov (Shipyard).

For the Wholesale Operations Superintendent, Bruno Ribeiro, this is a very important milestone for Caixa, as it is the bank's first wholesale infrastructure operation and the first with the Merchant Marine Fund in the Northeast region. "We are happy to celebrate with the Belov Group because this contract translates directly into job and income generation, as well as the development of national industry." Client and Business Manager Renata Gibaut adds that starting operations with Belov is rewarding because the institution believes in the company's potential and values its history and dedication to Brazil and Bahia. In her words, "it is a relationship aligned with Caixa's investments in the country."

Luiz Alberto Sant’Ana emphasizes that the Belov Group's project is essential to the brand's history, but also fundamental to the naval industry due to job creation and its contribution to the local economy. Juracy Vilas-Bôas thanked Caixa for incentivizing the modernization and expansion project of the Belov Shipyard, expressing hope that this will mark the beginning of new investments through the Merchant Marine Fund.

The Shipyard

Located in Simões Filho, in the Salvador Metropolitan Area, sheltered by the waters of Aratu Bay, the Belov Shipyard began its modernization and expansion process in 2025 to meet its operations and the demands of the naval market. The main modifications include the built industrial area, which will expand from 12,000 m² to 16,000 m², the construction of new administrative buildings and production sheds, and the modernization and automation of the manufacturing facility.

Construction systems that reduce waste generation will also be implemented, alongside improvements to environmental practices already adopted at the facility—which holds a Green Seal and up-to-date environmental licenses—and an expansion of solar energy generation capacity. Upon completion of the project, whose first stage is nearly finished, the annual production capacity of the Belov Shipyard will reach 11,000 metric tons per year, double its current output.

Shipyard Director Sérgio Belov expressed the corporation's gratitude for having the project approved by the financial institution. Caixa's rapprochement with FMM operations is very important because "this specific operation is a milestone, a new beginning, and I hope it is the first of many to come," he concluded.