Brazilian miner and iron ore producer Vale reached a deal with Brazil-based railway operator MRS Logistica to buy 23 locomotives and train parts for a total of BRL 115 million, MRS said in a document filing at the nation’s securities exchange commission, CVM.
According to MRS, the BRL 115 million deal was closed October 14. Vale is a shareholder at MRS. Other stakeholders include local steelmakers CSN, Usiminas and Gerdau.
Under the terms of the contract, MRS will sell 23 GE Dash-9 locomotives at a price of BRL 4.919 million each, totaling BRL 113.1 million.
The deal also involves train parts at a cost of BRL 1.9 million, totaling a combined BRL 115 million deal.