Bloomberg News

MRS Railway Gets Loan to Boost Brazil Ore, Steel Cargo Capacity

September 29, 2008

MRS Logistica SA, a railroad in southeast Brazil that carries steel, iron ore and general cargo, said it will borrow 360.3 million reais ($184 million) to boost capacity.

State-controlled development bank BNDES will provide 10- year financing to eliminate bottlenecks and enlarge capacity, Rio de Janeiro-based MRS Logistica said today in a statement sent to Brazil's securities regulator.

Among MRS Logistica's customers are Cia. Vale do Rio Doce, the world's biggest iron-ore producer, and Cia. Siderurgica Nacional, Brazil's third-largest steelmaker and a shareholder in the railroad company.

To contact the reporter on this story: Diana Kinch in Rio de Janeiro dkinch1@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus