Mining Grupo Bemisa said it has signed an agreement with the Brazilian Ministry of Infrastructure to conclude the construction of a railway stretch that was formerly managed by CSN-owned company, Transnordestina.
Bemisa intends to install an iron ore terminal near Cocaia Island Suape, Pernambuco state. It expects to transport the iron ore it will produce at its Piaui state mine using the Transnordestina railway.
Bemisa said it will conclude a 717-km-long (445.5-mile-long) railway stretch connecting the states of Piauí to the Port of Suape, in the state of Pernambuco. The company expects to invest BRL 5.7 billion ($1.1 billion) in the project.
CSN owns the Transnordestina railway, a 1,073-mile railway project connecting 81 cities in Brazil. The project has been delayed for years has cost CSN thus far BRL 6.4 billion ($1.2 billion). The project was first expected to be completed in 2010, but was delayed to 2021, then 2019, and more recently to 2027.