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Three state railways launch Eurasian transport operator

May 29, 2014, 15:43 UTC+3 ASTANA
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ASTANA, May 29. /ITAR-TASS/. Railways of Russia, Belarus and Kazakhstan have become partners in forming the United Transporation and Logistics Company (UTLC).

A final founding document was agreed behind the scenes of the Supreme Council of the Eurasian Economic Union meeting in Astana, Kazakhstan, Russian railways (RZD) chief executive Vladimir Yakunin told journalists.

The deal unites RZD, Kazakhstan Temir Zholy and Belarusian Railway. Founders’ shares are determined according to the market value of contributed property and are planned to be brought to future parity at 33.3% each.

RZD's business plan estimates UTLC's total cargo will exceed 4 million TEU (20-foot equivalent units) by 2020. Cumulative contribution to common GDP is expected at $11.3 billion (almost $5 billion for Russia, $5.3 billion for Kazakhstan and about $1 billion for Belarus).

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