May 28, 2020
Brazilian logistics company Rumo said Wednesday that it agreed to invest BRL6.1 billion ($1.15 billion) to renew the concession contract for the Malha Paulista railroad network for 30 years.
The contract was set to expire in 2028, but now it will end in 2058, Rumo said in a securities filing. The federal government will earn roughly BRL2.9 billion in concession fees from the renewed contract, Rumo added.
Rumo sold BRL1.13 billion in 10-year debentures in November last year to fund railroad inves
Brazilian logistics company agrees to invest more than $1 bln to extend the Malha Paulista contract by 30 years