Brazil’s planned auction of the rights to expand and operate the North-South railway between Tocantins and Sao Paulo states has drawn the interest of major operators from countries including Russia, China and Spain, a government official said on Friday. The official also said the government may grant the winner of a concession for the Ferrogrão railway project in northern Brazil exclusive rights to operate along those rails to compensate for roughly $4 billion in needed investments.
Creditors of Brazil’s Oi balk at revised debt restructuring plan
The two biggest bondholder groups in Brazilian telephone operator Oi said on Friday they “strongly oppose” the terms of a new debt restructuring plan the company intends to present in bankruptcy court. Claiming the proposed terms “were not previously negotiated with either of the Oi bondholder groups,” the creditors said in a joint statement that Oi has “failed to engage” with them, nine months after filing for bankruptcy protection.
China, Chile and Egypt lift bans on Brazilian meat imports
China has lifted a total ban on imports of Brazilian meat imposed over allegations that companies have been selling unsafe produce for years. Brazil’s Agriculture Minister Blairo Maggi says the move follows a “giant effort” by officials to explain the investigation into tainted food. Chile and Egypt have also lifted their bans, the Brazilian …
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