Russia, Kazakhstan, Belarus setting up united transport and logistics company
ST. PETERSBURG. June 20 (Interfax) - An agreement to set up the United Transport and Logistics Company of Kazakhstan, Belarus and Russia has been signed at the St. Petersburg International Economic Forum.
Russian President Vladimir Putin witnessed the signing.
A press release said the company "would bring tangible financial gains to its shareholders and member states of the Common Economic Space."
The agreement contains a feasibility study and a business plan.
The business plan projects overall cargo turnover of 4.2 million standard units (20ft containers) and approximately $1.6 billion in additional revenues of national railroad companies from using the infrastructure by 2020.
The agreement stipulates investment of about $6.2 billion in the rolling stock, containers, terminals and other transport infrastructure.
Russian Railways President Vladimir Yakunin signed the agreement on behalf of Russia.
The final goal is 33% stake of each country in the company, Yakunin replied to an Interfax question.
