Vale outlines railroad investments

Vale outlines railroad investments

Corporate & Sovereign Strategy Project & Infrastructure Finance Brazil Latin America Economy & Policy Structured Finance Railroads

Brazilian mining conglomerate Vale said Wednesday that its board agreed to pay BRL24.7 billion ($4.86 billion) to extend two railway concessions in an agreement with the infrastructure ministry and the land transport agency ANTT. Vale said in a securities filing that it will make BRL11.8 billion in concession payments along with BRL9 billion in investments in the FICO and FIOL railway lines. It added that it will pay BRL3.9 billion to make improvements, including an expanded passenger train serv

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