The Brazilian audit court, TCU, has allowed the concession of a railway stretch that will be used to transport iron ore, the ministry of infrastructure said this week.
The court allowed the 35-year concession, which should draw BRL 3.3 billion in private investments and 65,000 direct and indirect jobs.
The stretch connects the cities of Ilheus to Caetité, both in the northeast state of Bahia. The so-called Fiol 1 stretch is part of a larger railway that aims to become a means of transportation for iron ore in Bahia state.