Valec Engenharia, Construções e Ferrovias S.A. is a corporation controlled by Brazil's federal government and associated to the Ministry of Transportation, which engages in the construction and operation of railways across the country. The Brazilian Federal Government holds a 100% stake in the company. Valec has constructed 1,579km of railways between the central states of Tocantins and Góias, as part of the Ferrovía Norte-Sul, a railway project stretching from the northern state of Pará to the southmost state of Rio Grande do Sul. The company is also currently building 1,704km —a 682km stretch part of the north-south railway, between Ouro Verde, in Góias, and Estrela d'Oeste, in São Paulo state; and the rest in Bahia state, as part of the future West-East Integration Railway (FIOL). Many other railway stretches are in different stages of development, including the Do Pantanal railway —734km connecting the municipalities of Panorama, in São Paulo, with Murtinho, in Mato Grosso do Sul— and the Transcontinental railway —connecting Porto do Açu, in Rio de Janeiro coast, to Boqueirão da Esperança in the western state of Acre, along 4,400km in Brazilian territory and continues to Peru. Valec will also build a stretch connecting the north-south railway to the Transnordestina Railway, a 1,753km project crossing the states of Piauí, Ceará and Pernambuco, which is under construction by Transnordestina Logística, a subsidiary of Brazilian steelmaker CSN. Valec was founded in 1972 and is based in Brasilia.