SG Trans plans to buy rail operator in Kazakhstan in 2014
MOSCOW. Dec 11 (Interfax) - Rail operator SG Trans, which is part of AFK Sistema, plans to buy a rail operator in Kazakhstan with a fleet of up to 15,000 rail cars in 2014, SG Trans President Alexei Taicher told the press on the sidelines of the Transport Services Market conference Wednesday.
"We ship to Kazakhstan now, but we want to buy or set up a company there," he said, adding that it is "easier to buy an existing player." The target for the company is up to 15,000 railcars, he said, noting that there are around 70,000 railcars in Kazakhstan.
"The main cargo in Kazakhstan is oil," but "it does not make sense to limit yourself to one specific line."
SG Trans has a minimum of three potential partners in Kazakhstan, he said.
SG Trans and Financial Alliance will complete their merger by the end of January 2014, Taicher said. The new company will have around 30,000 railcars, of which 15,000 are gas tankers, 12,000 oil tankers and 3,000 gondola cars. The SG Trans fleet should reach 60,000 to 70,000 railcars in the mid-term after the acquisition in Kazakhstan.
SG Trans plans to buy at least 1,000 gas tankers in 2014 as well as gondola cars.
