The Brazilian government plans to invest BRL 1.4 billion ($448.5 million) in steelmaker Companhia Siderurgica Nacional’s Transnordestina railway over the next three years, according to several media reports.
The goal is to have the 1,073-mile railway project—which was supposed to finish in 2010—completed by 2021. CSN is expected to invest an additional BRL 1.8 billion ($576.6 million), but the investment proposals from the Brazilian government and CSN are yet to be analyzed by Brazil’s audit court, the TCU.