MRS Logistica to invest US$69.4mn this year
Bnamericas Published: Monday, April 05, 2004
Brazilian railroad concessionaire MRS Logistica will invest 200mn reais (US$69.4mn) this year, up 60.3% from 2003, Jornal do Commercio quoted MRS president Julio Fontana Neto as saying. The investment should increase this year's cargo movement to 95Mt from 86Mt in 2003, said Neto. The investment is helping MRS meet growing demand from sectors such as mining and steel, and from new general cargo clients, Brazil's transport ministry said previously. Steel firm CSN (32.2%), iron ore miner MBR (32.7%), Ferteco (10.4%), Usiminas (10.2%), Gerdau (1.25%) and minority shareholders (13.3%) control MRS, which operates the 1,700km southeast network known as Malha Sudeste through the states of Minas Gerais, Rio de Janeiro and Sao Paulo.
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