BNDES will finance 52.3% of the Reais 8bn project, which entails track-doubling on a 115km section of the line, together with the acquisition of new locomotives and wagons, and the construction of a fourth pier and unloading facilities at Ponta da Madeira. The project is due to be completed in 2014.
Vale secures funding for Carajás expansion
BRAZILIAN mining giant Vale has announced on August 23 that it has concluded a Reais 3.9bn ($US 1.92bn) financing deal with Brazil's National Development Bank (BNDES) to fund its Logistics Capacity North (CLN) 150 enhancement project, which will boost iron ore throughput by 30.4% on the Carajás Railway (EFC) and at the port of Ponta da Madeira.
Categories: Central/South America, Financial, Freight, Infrastructure, News, Track
