CSN to invest $2.3 bn in logistics

SAO PAULO: Brazilian steelmaker CSN said on Wednesday it is to invest 2.3 billion dollars over the next five years to expand its logistics operations in the Rio de Janeiro port of Iagatuai.

The money will go to extending container terminals and creating a logistics support center and a private port to be named Lago da Pedra, it said in a statement.

The investment is aimed at making the facility "one of the most modern in the country," the company's logistics director, Davi Emery Cade, said.