Brazilian logistics company LLX Logistica said that it received regulatory approval for the construction of the Sudeste Port a port terminal that could handle 50 million tonnes of iron ore annually in its initial phase.

The Rio de Janeiro based company said the license issued by Rio de Janeiro State's Environmental Institute, is a key requirement for the construction, which is scheduled to begin in the second half of 2009. The port is expected to start operations in 2011.

(Sourced from Thomson Reuters)