March 28, 2019 / 6:28 PM / 5 months ago

Brazil's Rumo wins auction to operate railway with $694 mln bid

SAO PAULO, March 28 (Reuters) - Brazil’s listed logistics company Rumo SA on Thursday made a successful bid to operate a 1,537-kilometer railway, offering 2.719 billion reais ($694 million) for a 30-year license, according to the results of the auction.

Rumo’s only contender at the auction was VLI SA, a logistics company partly owned by Brazilian mining firm Vale, which bid 2.065 billion reais. ($1 = 3.9165 reais) (Reporting by Aluisio Alves Writing by Ana Mano Editing by Phil Berlowitz)

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