Vale Gets $2.8 Billion From Brazil’s BNDES for Expansions
Vale SA secured 6.2 billion reais ($2.8 billion) of funding from Brazil’s state development bank for expansions at Carajas, the world’s largest iron ore complex.
The BNDES loan will help finance Rio de Janeiro-based Vale’s railway network and a new mining and processing unit in Para state with annual capacity of 90 million metric tons, the bank said in a statement distributed by e-mail today.
Read more at: http://www.bloomberg.com/news/2014-04-15/vale-gets-2-8-billion-from-brazil-s-bndes-for-expansions.html
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