Vale S.A (VALE) said in a regulatory filing Monday it has secured an agreement with the Brazilian National Land Transportation Agency and the Brazilian Federal Government to pay up to 11 billion Brazilian reais ($1.78 billion) in global contributions to renegotiate two existing railway concession contracts.
The deal covers the general terms for the renegotiation of the Carajas and Vitoria a Minas railways concessions, the company said.
The deal would result in a 1.7 billion reais increase in provisions related to the railway concessions, Vale said.
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