June 13, 2017 / 4:56 PM / 5 months ago

Brazil to auction off part of Norte-Sul railroad in February

BRASILIA, June 13 (Reuters) - The Brazilian government is looking to raise 1.5 billion reais ($454 million) by auctioning a stretch of the Norte-Sul railroad connecting the states of São Paulo and Tocantins in February 2018, a senior government official said on Tuesday.

The government will auction a 30-year operating license, with a potential 30-year extension, said Wellington Moreira Franco, the cabinet minister spearheading President Michel Temer’s push to draw private investment in transportation infrastructure.

$1 = 3.30 reais Reporting by Leonardo Goy; Writing by Bruno Federowski

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