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Colombia's Fenoco and coal railway workers agree to pay raise
September 18, 2013 / 7:01 PM / 4 years ago

Colombia's Fenoco and coal railway workers agree to pay raise

BOGOTA, Sept 18 (Reuters) - Workers at Colombia’s Fenoco railway have reached an agreement with the company for a pay increase of 4.5 percent on average and improved benefits, after 20 days of negotiations, the Sintraime workers union told Reuters on Wednesday.

Fenoco transports about half of Colombia’s coal exports to the seaports. The company’s main shareholders and users are Goldman Sachs, Glencore Xstrata Plc and U.S.-based Drummond International, each of whom manages their own rolling stock.

“Negotiations were difficult but we have reached an agreement,” said Felix Herrera, president of Sintraime, which represents workers in the mining, metallurgy and rail sectors.

He said the agreement was “in the process of being signed.”

A Fenoco representative confirmed a deal had been reached.

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