Brazil expects $7.5 billion investment in railways, including Vale’s

Tuesday, 08 September 2020 21:48:14 (GMT+3)   |   Sao Paulo

The Brazilian government expects the private sector to invest $7.5 billion (BRL 40 billion) in local railways, including Vale’s Carajas railway.

According to Tarcisio Freitas, minister of infrastructure, investments include the early renewal of existing railway concessions, such as Vale-owned Estrada de Ferro Vitoria-Minas as well as the company’s Carajas iron ore railway.

The investments are expected to improve logistics in Brazil, as much of it is still done using roads and trucks. Other major railway projects include Ferrograo, connecting Mato Grosso to Pará state, and a stretch of the Norte-Sul railway, connecting the port of Itaqui in Maranhao state to the port of Santos in Sao Paulo state.

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