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Back You are here: Home News Unified Transport and Logistics Company Of Russia-led Customs Union Could Start In Next Few Months

Unified Transport and Logistics Company Of Russia-led Customs Union Could Start In Next Few Months

14 May 2014

The Customs Union countries of Russia, Belarus and Kazakhstan have approved the draft charter, internal documents and the draft business plan for the Unified Transport and Logistics Company (UTLC), according to the Belorussian government. The documents on the creation of the UTLC are now to be signed by Russia's President Vladimir Putin.

Regarding the railway and the relevant ministries "the whole scheme has been prepared", said Vladimir Yakunin, president of the state-run Russian Railways company. "We received in Russia the document authorizing Russian Railways to do their part to create an integrated transport and logistics company," he said.

According to preliminary agreements, Russian Railways will control 99 percent of the assets and UTLC and the railways of Belarus and Kazakhstan will hold an aggregated 1 percent. After additional assets are created, Russian Railways' share will be reduced to about 70 percent.

The Belorussian government believes that after seven years the share between the three countries will amount to about 33.3 percent each.

The approximate cost of UTLC could reach $3.5 billion, and by 2020 the total revenue could reach $5.8 billion with a net profit of $900 million.

Fruitnews article (Russian): http://www.fruitnews.ru/logistika/transportirovka/39243-strany-chleny-ts-mogut-sozdat-edinuyu-transportnuyu-kompaniyu-uzhe-do-kontsa-pervogo-polugodiya-2014-goda.html

Source: http://www.tks.ru/logistics/2014/05/12/0001?utm_source=email

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