Brazilian Railway Project will be Ready by 2012

Companhia Siderurgica Nacional (SID) announced that its Nova Transnordestina railway project will be completed by the end of 2012, involving an investment of $2.6bn in constructing 1,728km of large-gauge track and increasing annual cargo capacity to 30 million tons for the Brazilian steelmaker.

September 20, 2010 12:11 pm | Last Update: August 14, 2015 12:13 pm

Companhia Siderurgica Nacional (SID) said that its Nova Transnordestina project in Brazil will be completed by the end of 2012.

The $2.6bn project includes the construction of an additional 1,728km of large-gauge railway track. The project will allow the steelmaker to carry about 30 million tons of cargo annually in the north-eastern part of the country.

The development will receive 60% of its funding through debt and 40% through capital injections. SID has a 56% stake in the project, which is supported by the federal government and state-owned Brazilian Development Bank.

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