Rumo Logistics, an affiliate to Cosan Group, has closed the emission of BRL1.129 billion (US$270.56 million) in debentures to fund the development of the Brazilian Norte-Sul railroad – a project that connects Porto Nacional to Estrela d’Oeste.
The company has made the 13th issue of debentures in the amount of BRL1,129,136,000 (US$271.26 million) not convertible into unsecured shares.
The funding will be transferred to its subsidiaries Rumo Malha Sul and Rumo Malha Central in the following proportion: (i) BRL203,000,000 (US$47 million) for Rumo Malha Sul; and (ii) BRL926,136,000 (US$222.5 million) towards Rumo Malha Central.
In August 2019, the company has been awarded the concession contract for the BRL2.72 billion (US$692 million) railway project by Agência Nacional de Transportes Terrestres (ANTT) in Brazil.
The project is expected to be operational by 2021.
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