The public fund for CSN's Transnordestina railway project was suspended: the Brazilian Supreme Court (TCU) suspended the public fund to be allocated to the Transnordestina railway project to Companhia Siderurgica Nacional (CSN) on grounds of unlawful circumstances.
TCU, the alleged unlawful situation, 1.728 km to be taken to the CSN-owned railway project, without bidding the contract was approved by the Brazilian transport organization (ANNT) announced that.
Both ANTT and the court document signed by the ministry stating that the companies are involved in the construction of the railway. ANTT has not been investigating the sustainability of the budgets offered by the competing companies.
Although the Transnordestina railway project was a special project by the Brazilian steelmaker CSN, the company was borrowing from state-run banks and other institutions for the project in question.
For the Transnordestina railway project, which started in 2006, it was originally projected that the 7,5 billion BRL would be sufficient, and the project was expected to end in 2010. However, for the moment the information about the end date of the project has not been disclosed.
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