Brazil's LLX gets $234 mln loan for Sudeste Port

RIO DE JANEIRO Dec 29 (Reuters) - LLX Logistica, the Brazilian logistics firm controlled by billionaire Eike Batista, said on Tuesday it obtained a loan of 408 million reais ($234 million) for its Sudeste Port from state development bank BNDES.

LLX (LLXL3.SA) said in August it had received regulatory approval for the construction of the port, which is designed to handle 50 million tonnes of iron ore per year in its initial phase.

The company will use the funds for equipment purchases from Brazilian suppliers.

The project is expected to receive iron ore from mining company MMX, also controlled by Batista, as well as from other miners in the state of Minas Gerais that currently do not have access to iron export markets.

The port is expected to start operations in 2011.

($1=1.743 reais) (Reporting by Brian Ellsworth, editing by Matthew Lewis)