Brazil's CSN signs lease extension on port terminal

lunes 28 de septiembre de 2015 19:09 GYT

SAO PAULO, Sept 28 (Reuters) - Brazilian steelmaker CSN signed a lease extension of more than 25 years on its port terminal in the state of Rio de Janeiro, the company and port authority said on Monday.

The Tecar terminal in Itaguai is used to export iron ore and import coal.

Companhia Siderúrgica Nacional, as the company is formally known, said it plans to invest 1.6 billion reais ($389 million) in the facility over the next four years to increase capacity to 60 million tonnes per year, from 30 million tonnes.

Brazil's port authority said the proposed investment was crucial to getting the license renewed.

The concession will now expire in 2047.

$1 = 4.11 reais (Reporting by Alberto Alerigi, writing by Stephen Eisenhammer; Editing by Cynthia Osterman)