December 17, 2020 |
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
Brazilian mining company plans to spend $4.86 bln to extend two railway concessions until 2057