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Eurasian Resources Group signs agreement to complete and operate a stretch of the FIOL railway in Brazil, proceeds to create a new logistics corridor
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Eurasian Resources Group ("ERG" or "the Group"), a leading diversified natural resources group headquartered in Luxembourg, and its wholly-owned Brazilian subsidiary BAMIN, announced that on 3 September, 2021, BAMIN has signed a concession agreement with the Brazilian Federal Government to complete and operate a section of the FIOL (East-West Integration) railway.
BAMIN will advance the construction works, which until recently were carried out by the state-owned railway engineering and construction company Valec. The sub-concession has been granted for a 35-year period, which includes an allowance of five years for the construction of the railway and 30 years for its operation. BAMIN's investment into the railroad and the rolling stock will amount to c. 3.3 bln...
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