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.
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