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Brazil: Japan launches railway joint venture

By  |  November 10, 2014

Japan-based Mitsui has forged a partnership with Brazil transport company Odebrecht TransPort, say reports, adding a new competitor to Brazil’s passenger rail industry.

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    Mitsui announced the joint venture as one that will compete for subway and light rail transit projects. The Japanese firm said it will retail a 40 percent stake in the new company; Oderecht TransPort will hold the rest.

    Brazil’s competition authority CADE will need to give clearance for the partnership, but the companies said they expect to close the deal by the end of the year.

    Mitsui was one of several railway companies fined for bid-rigging by prosecutors in Sao Paulo earlier this year.

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