Brazil’s Rio de Janeiro’s state plans to invest 1.7 billion reais ($911 million) to build a railway that will connect the main state port terminals, O Globo reported, citing a government official.
Valec - Engenharia, Construcoes & Ferrovias SA, a state- controlled company, will be responsible for the construction, according to Julio Lopes, Rio’s transportation secretary. The project also will receive financial support from Petroleo Brasileiro SA (PETR4), Vale SA (VALE5) and EBX Group Ltd., Lopes told the Rio de Janeiro-based newspaper.
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