RZD to raise its share in Ust-Luga and Novorossijsk ports to 25%

Russian Railways plans to raise its share in the capital of Ust-Luga and Novorossijsk ports to 25%, Vadim Morozov, first vice-president of RZD OJSC told at the conference “Transportation infrastructure and logistics under vigorous market growth”, RZD-Partner reports.  According to Morozov, the company is to invest considerable resources (figured in billions of rubles) within several years into improvement of approaches to developing Russian ports. The company’s main task is to create new possibilities and efficient supply chins for cargo owners. RZD OJSC has already purchased 8.5% of Ust-Luga shareholding and acquired ownership of 16% of Novorossijsk shareholding.