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Rusagrotrans and Kaztemirtrans to establish a JV to jointly transport grain

01 june 2011, 13:04
0
Rusagrotrans, the largest grain shipping company in the post-soviet territory, is diversifying its business. It seeks to establish a JV with a Kazakhstan’s player.

Rusagrotrans and Kaztemirtrans (subsidiary of Kazakhstan Temir Zholy National Railways Operator) are to sign an agreement to establish a JV to jointly transport grain, Russia’s Vedomosti reports, citing First Vice General Director of Rusagrotrans Mr. Oleg Rogachev.

The JV with a capital of $90 million will be established on a parity basis. The railway car fleet will make up 10 000 railway cars. The company plans to ship 8-9 million tons of grain a year.

According to Kaztemirtrans, both sides will befit: Kazakhstan is among the largest grain exporters (according to the Agriculture Ministry, in 2009-2010 season grain production output made up about 17 million tons, with exports standing at 7.87 million tons), however, the shortage of grain carriers is limit the nation’s export potential, Profinance.kz reports.

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