During its meeting on 16 February, the Board of Directors of Russian Railways will take a formal decision to create the joint open-stock “Port Ust-Luga Transportation Company.” All the necessary documents are currently being prepared.
The joint venture between Russian Railways and the Ust-Luga Company will service freight passing through the sea port of Ust-Luga. The main aim of the project is to create a structure able to serve the growing volume of freight via the port Ust-Luga, develop competitive support activities and, ultimately, become a competitive freight operator.
The formal establishment of the joint venture is expected in March-April 2007.