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 firstname.lastname@example.org
To contact the editor responsible for this story: Steve Stroth at email@example.com