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Empressa de Transporte Ferroviario S.A. (Ferronor) Dec. 21 reached a 15-year, $69 million agreement with copper producer Codelco, under which Ferronor, beginning Jan. 2, will operate Codelco's 57-mile Potrerillos Railway from Potrerillos to Diego Almagro, Chile.
Majority owned and operated by RailAmerica Inc. (with minority Chilean partner Andres Pirazzoli y Cia. Ltda.), 1,490-mile Ferronor will operate Codelco's nine locomotives and 186 rail cars, annually handling about 900,000 tons — or 26,000 carloads — of sulfuric acid, diesel, copper ore and cathodes between Potrerillos and Barquitos ports.
Ferronor plans to hire 25 employees to operate Potrerillos Railway.
RailAmerica Chairman, President and Chief Executive Officer Gary Marino believes the agreement will increase Ferronor's annual revenue $4.6 million, and greatly expand its operating reach and business base, according to a prepared statement.