It is reported that CVRD and the Japan Bank for International Cooperation have signed a $150mn loan agreement to improve the company's transport infrastructure, the bank said in a release.

The loan will be used for improving and strengthening CVRD's rail and port infrastructure to increase iron ore transportation capacity and efficiency, as the company plans to increase output at its mine in Minas Gerais state. Specifically, the financing will benefit the Vitria-Minas railroad that connects the Itabira mine and Tubaro port.

Japan, which has to rely on imports for almost all its iron ore requirements, expects the improved infrastructure will guarantee a stable supply. CVRD supplies about 15% of Japan's iron ore imports.