MRS strengthens fleet and purchases 866 wagons
Gazeta Mercantil - 01/15/2008
MRS Logística is going to invest R$ 141 million (US$ 80.1 million) in the purchase of 866 wagons. The concessionaire, which operates the railroads in the states of Minas Gerais, Rio de Janeiro, and São Paulo, also announced that it is going to receive 15 band-new locomotives from the G manufacturer, in an investment of U$ 35 million. MRS's president Julio Fontana Neto said that the increase of the fleet is to prepare the company for this year's estimated increase of transport of 20%. According to the company's estimates, in 2008 the MRS should transport between 150 and 160 million tons. The executive also affirmed that MRS's investments should "greatly" exceed the resources invested in 2007. "Last year, the allocations were R$ 700 million (US$ 397.7 million). Only in the purchase of wagons and locomotives R$ 400 million (US$ 227.3 million) was invested. We will prepare the company for the transport's estimated growth", stressed Fontana. The new wagons will be totally financed by the Finame line and, according to a company's official note sent to the Securities and Exchange Commission (CVM), the contracts with the banks will have a grace period of six months and a 10-year amortization period. According to Fontana, until June the 866 wagons ordered to Usiminas Mecânica (Usimac) - 136 pieces of equipment - and to the Amsted Maxion, 730 wagons, will be delivered. "130 wagons will be incorporated to the fleet every month. However, we have already ordered nearly 1.6 thousand pieces of equipment for the whole year, all of them for iron ore transportation, since we have enough wagons for the general cargo", stressed the executive. The company, which transported 126.3 million tons in 2007 - and which should keep a stronger expansion rhythm this year - has been investing in the strengthening of its fleet. Since 2000 the MRS has bought 255 locomotives, 55 of those being new ones. "From January, 2000, to January, 2008, 3,416 units were acquired. Until this July, another 1,402 wagons should arrive", says the president of the MRS.