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Brazil's LLX To Double Sudeste Port Iron-Ore Capacity

Issued at 2010-12-09



LLX Logistica SA (LLXL3.BR), the port operator controlled by Brazilian billionaire Eike Batista, said Friday that it will double capacity at the port it is building in Rio de Janeiro state to ship iron ore.

LLX said in a regulatory filing that it purchased four tracts of land totaling 150,000 square meters in the municipality of Itaguai, about 70 kilometers west of Rio de Janeiro, to expand the capacity of the Superporto Sudeste port it is building. With the expansion, LLX should be able to ship 100 million tons of iron ore a year, up from previous capacity of 50 million tons, the company said. LLX didn't say how much it spent to acquire the land.

The higher capacity will allow port client MMX Mineracao & Metalicos SA (MMXM3.BR), the iron-ore producer also controlled by Batista, to increase production at its Serra Azul mines, according to the statement.


Source: Fox Business



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