March 29, 2019 |
Rumo said it won the concession auction for a stretch of the Ferrovia Norte-Sul on Thursday with a bid of BRL2.72bn ($696m), or more than double the minimum offer set by the government.
VLI, with Vale, Mitsui and Brookfield among its shareholders, presented the only other offer for BRL2.07bn. Russian Railways (RZD) and China Railway Group (CREC) had previously shown interest in the concession, but they did not participate in the auction.
The national ground transportation agency ANTT had put the
Curitiba-based logistics firm bids $696m to take the 30-year contract for a 1,500km stretch of the Ferrovia Norte-Sul