BNDES Approves Financing Contract to Implement Projects
OREANDA-NEWS. Vale informs that Banco Nacional do Desenvolvimento Economico e Social (BNDES) approved a financing contract of BRL 6.2 billion to implement the Carajas Serra Sul S11D and CLN S11D projects. The financing term is ten years and the funds will be disbursed within three years according to the projects' plans.
The S11D project consists of development of a mine and processing plant located in the Southern range of Carajas, in the Brazilian state of Para, with an estimated nominal capacity of 90 million tons per year (Mtpy) of iron ore. The CLN S11D project includes investment in railway and port, increasing the estimated nominal logistics capacity of the Carajas Railway and of Ponta da Madeira maritime terminal to approximately 230 Mtpy.