MOSCOW. Dec 20 (Interfax) - The board of directors at Globaltrans Group might decide on Tuesday for the purchase of two railway operators, Metalloinvesttrans and MMK Trans, for a combined cost of $600 million-$700 million, the Russian daily Kommersant reported.

"In addition to funds, Alisher Usmanov's Metalloinvest might receive shares in Globaltrans. The transaction would expand [Globaltrans Group's] railcar fleet by 25%," the newspaper reported citing sources in the railway sector.

If the group's board approves the purchase, it should be completed by January 25, one source said. Globaltrans should receive 100% stakes in each company's charter capital.

Metalloinvesttrans and MMK-Trans are Metalloinvest and MMK's "captive" railway operators (transport divisions), respectively. Kommersant's sources said that both holdings have confirmed that the option of selling their respective transport companies is now under review. Metalloinvest has yet to make an official comment but MMK said no decision so far has been made about selling its railway operator. The latter company said that it is "looking at the possibility of signing long-term contracts with potential railcar owners