MRS Logística to invest US$249mn in 2009

Brazilian rail operator MRS Logística has confirmed a 549mn-real (US$249mn) investment budget for 2009, news service Agência Estado reported.

A total of 178mn reais will be used to buy rolling stock and office materials; another 221mn reais will be spent on track repairs; 112mn reais will be allocated to improve signaling, energy and telecommunications; and 38mn reais will be used for miscellaneous purposes, the report said.

Most of the resources will come from the company's own funds and the rest through financing.

At the same time, the company is forecasting a volume of nearly 137mn net-tonnes kilometer (TKU) for the year, the report said.

MRS Logística, a cargo railway concessionaire since 1996, operates the southeastern federal railroad network which connects the states of Rio de Janeiro, Minas Gerais and São Paulo.

The company has 1,643km of railways that connect to Sepetiba port, in Rio de Janeiro state, and Santos port, in São Paulo, according to a company release.

Publication: Business News Americas - English News
Provider: Business News Americas
March 26, 2009