Vale approves 30-year extension of railroad concessions for commitments of $5 bn

The mining company Vale informed that approved additive terms for the extension of the concession contracts of its railroads Estrada de Ferro Carajás (EFC) and Estrada de Ferro Vitória a Minas (EFVM) from the expiration of the current contracts in 2027. According to the company, the documents for the 30-year extension of the concessions will be signed in the next few days with the government and the company will assume total commitments estimated at R$ 24.7 billion ($5 bn) in exchange for the renewal.

Source: G1