Cosan has obtained, through its subsidiary Cosan Operadora Portuária, the approval of the National Bank for Economic and Social Development (BNDES) for a financing volume of R$ 614 million.
These funds shall be used as investments in the rail network under concession to América Latina Logística (ALL), in the stretch between Itirapina (SP) and the port of Santos (SP), in the adaptation of the port terminals of Rumo Logística – also controlled by Cosan – in Santos and the construction of a logistics terminal in Itirapina. The financing line shall have a total cost of the TJLP plus 1.92% per annum, with a period of up to 12 years.
These funds, added to the R$ 372.5 million already approved by the BNDES in December 2009 and also the increase in capital by R$ 400.0 million to be carried out by investment vehicles managed by TPG Capital and Gávea, ensure the investment programme for Rumo Logística, at a total of R$ 1.2 billion, the company says in an official statement.
This initiative confirms the essential role of the BNDES as a nurturing agent in logistics investments and infrastructure in the country and also confirms the Rumo business plan to transform the logistics of Brazilian sugar exports, Cosan highlights.
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