Other Logistics

RUMO LOGÍSTICA MAKES PRE-PAYMENT OF R$5.1 BILLION TO FEDERAL GOVERNMENT

Sep, 15, 2020 Posted by Ruth Hollard

Week 202038

Through the National Land Transport Agency (ANTT), the Ministry of Infrastructure (MINFRA) signed an agreement with the logistics company Rumo to receive an advance of R$ 5.1 billion in resources related to the partial pre-payment of grants from the Malha Paulista concessions and the central and southern sections of the North-South Railway (FNS). With the agreement signed on Tuesday, September 15, the federal government’s coffers received R$ 5.1 billion in resources. This is the largest single grant payment in the history of the ministry.

As a result, many of the installments were paid in advance – 70 installments in the case of Malha Paulista and 59 installments in the case of the two sections of the FNS, totaling R$ 2.82 billion and R$ 2.27 billion, respectively. The remaining payments will be made according to the terms stipulated in each of the concession contracts (until 2049 for the North-South Railway and until 2058 for the Malha Paulista).

Grant installments are often adopted during public auctions for railway concessions as a way to increase attractiveness and are considered a benefit to the bidder. The installment calculation took into account only the present value of the upfront payments, without any discounts.

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