Latvia Supports Rail Venture

Aug. 24, 2012

Latvia's national railway company Latvijas Dzelzcels, or LDz, is prepared to support the project to create a logistics joint venture between Russia, Belarus and Kazakhstan, to which Russian Railways plans to contribute its stake of 50 percent plus one share in railroad container freight carrier Transcontainer, Russian Railways corporate television channel reported, citing LDz's communications department, according to Interfax.

"Joining the unified logistics company would benefit the Latvian economy. This would promote further growth of freight turnover and as a result increase the country's revenues," the channel reported an LDz spokesman as saying.

The company also said detailed negotiations on this project would be held after its participants develop a business plan for the new operator.

(MT)

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