0409 GMT - Rio Tinto is one of the most mentioned companies in the news over the past four hours, according to Factiva data, after it announced an investment that will replace existing rail cars with ones made in the Pilbara region of Western Australia. Rio Tinto says it will invest in a partnership with Gemco Rail to purchase 100 rail cars over six years with an investment of 150 million Australian dollars (US$101.2 million). The first rail car is slated to be delivered in 2024 from a facility in Forrestfield, WA. The investment is part of Rio Tinto's efforts to support domestic manufacturing. Gemco Rail is a subsidiary of Australia-listed Engenco. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)

 

(END) Dow Jones Newswires

June 13, 2023 00:25 ET (04:25 GMT)

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