LatAm Transport and Capital Goods "Daily Take-Off: RAIL, RAPT" Valerio

Research evidence excerpt

LatAm Transport and Capital Goods "Daily Take-Off: RAIL, RAPT" Valerio

Global Research

22 May 2026ab

LatAm Transport and Capital Goods Equities

Latin AmericaDaily Take-Off: RAIL, RAPT

Industrial

Alberto Valerio

RAIL: Government targets Ferrogrão auction in 2H26 following legal progress Analyst

According to Estadao and Reuters, Brazil’s Ferrogrão railway is expected to be alberto.valerio@ubs.com

auctioned in 2H26, according to Transport Minister George Santoro, following +55-11-2767 6918

progress on environmental discussions and legal proceedings at the Supreme Court Andressa Varotto

(STF) and the Federal Audit Court (TCU). The project, initially enabled by a 2017 bill Analyst

reducing the Jamanxim National Park to allow a rail corridor linking Mato Grosso’s andressa.varotto@ubs.com

grain output to northern Pará ports, faced a legal challenge from PSOL over +55-11-2767 6654

potential social and environmental impacts. The Supreme Court has now rejected Rafael Simonetti

the challenge with a majority ruling, although it emphasized that the decision does Associate Analyst

not grant immediate construction approval, as the project must still clear several rafael.simonetti@ubs.com

administrative and licensing steps. Potential Impact: Slightly negative for RAIL if +55-11-2767 6628

the Ferrograo project advances

RAIL: New Malha Oeste concession to require Ferroanel construction; model

includes protections for Rumo’s Malha Paulista

According to Agência iNFRA’s broadcast, the new Malha Oeste concession model

approved by ANTT will require the future operator to build the Ferroanel of São

Paulo, regardless of which of the three concession alternatives is awarded. The

project will test-market interest for different stretches of the current network