Russian, Finnish rail companies to tie up
A freight rail subsidiary of the Russian Railways has signed a joint venture deal with Finnish transportation company VR Group to move import and export rail shipments between Russia and Finland, the companies said Tuesday.
Freight One, the rail cargo subsidiary or Russian Railways, is the biggest freight rail operator in Russia, with a 21 percent share of the country's wagon fleet. VR is a road and rail freight transportation company.
The venture will focus on sales, marketing and freight forwarding, with the possibility of expansion into other EU countries in the future. Regulatory hurdles for the entity are expected to be passed in the second quarter of 2009, the companies said.
