Brazilian rail operator Rumo has signed an agreement with Embraport to build a port terminal handling grains and fertilizers at the Santos port in Sao Paulo state, Rumo said on Monday.
The terminal's construction will cost an estimated 2.5 billion reais ($502.52 million) and be funded through loans and potential strategic partnerships, Rumo said in a filing.
Rumo said the terminal will be able to move up to 9 million metric tons in grains and 3.5 million tons in fertilizers a year.
Construction is subject to the fulfillment of certain conditions, Rumo said, like licensing and legal and regulatory approvals. After these conditions are met, construction should take 30 months.
(Reuters - Reporting by Steven Grattan; Editing by Kylie Madry)
