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Freight One Sells Cars

By The Moscow Times

The board of directors of Freight One has approved the sale of 10,000 used tank cars for carrying crude oil and oil products to Transoil for an undisclosed price.

The company said Transoil is buying the tank cars "at a market price determined by the parties taking into account the report of the independent appraiser."

Transoil plans to finance the deal with its own funds, Interfax reported Friday. Analysts say the value of the 10,000 railcars, depending on how long they have been operated, might be about 10 billion to 12 billion rubles ($313.5 million to $376.2 million).

(MT)

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