CSN reportedly seeking Italian investment for railway

Friday, 06 April 2018 23:58:37 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is reportedly seeking an Italian investor for its Transnordestina railway. CSN declined on Friday to comment the matter, with a spokeswoman said she could not confirm or deny the rumors.

A media report from Brazil’s Epoca said the unnamed Italian investor could invest as much as $80 million in the delayed project, so CSN could resume works. In exchange, CSN would offer slab for the investors, a sign they could be involved in the Italian steelmaking industry.

The Transnordestina is a 1,073-mile railway project that has been delayed for years, first expected to be completed in 2010.

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