The Brazilian ministry of infrastructure has allowed domestic steelmaker Companhia Siderurgica Nacional (CSN) to issue bonds to expand its Tecar terminal, SteelOrbis has learned.
According to a government document filing on December 31, 2019, Brazil has labeled the CSN bonds as a “high priority” project. CSN owns two terminals in Rio de Janeiro state: bulk solids terminal Tecar, and container terminal Tecon.
According to the Brazilian government notice, CSN may issue bonds to expand its Tecar terminal. The Tecar terminal has a capacity of 45 million mt/year to move iron ore.
CSN will use the proceeds of the bonds to expand and modernize the Tecar terminal through investments in offshore and onshore equipment.