Brazilian steelmaker Companhia Siderurgica Nacional (CSN) expects to resume delayed works at its Transnordestina railway this year, according to a media report citing CEO Benjamin Steinbruch.
The report said CSN would be willing to inject some BRL 200 million ($47.9 million) to resume works at the railway. CSN already spent BRL 6.4 billion ($1.5 billion) to build parts of the 1,073-mile railway project connecting 81 cities in Brazil. It was first expected to be completed in 2010, but was delayed to 2021, then to 2019, and more recently to 2027.
CSN would need a further BRL 6.7 billion ($1.6 billion) to complete 48 percent of the railway, the media report said. As previously reported by SteelOrbis, CSN was reportedly seeking an Italian investor to partner in the railway project. CSN declined last year to either confirm or deny the rumors.