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BNDES Loans US$ 219 Million for Railway Construction in Brazil

The Brazilian Development Bank (BNDES) announced today, June 6, the approval for a financing worth US$ 219.0 million to the National Steel Company (CSN) for the construction of the Transnordestina railway, in the Northeast of Brazil.

The CSN controls the Railway Company of the Northeast, which holds the concession for the northeastern region of the country.

The total cost of the undertaking, which will be 1,193 kilometers long, according to the bank, will be paid for with resources from the CSN itself and with loans from the BNDES, the Development Fund of the Northeast (FDNE) and the Investment Fund of the Northeast (Finor). Resources for expropriation will come from the government.

According to the bank, the CSN hopes to reach the following performance when the railway is ready: trains with 104 wagons, cargo of 33 tons per axle, speed of 30 kilometers per hour and transport of 30 million tons per year.

According to the BNDES, it is expected that some 1,500 direct jobs will be created during the construction.

Anba

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