Italian national railway company Ferrovie dello Stato Italiane (FS) has signed a memorandum of understanding (MoU) with Italian shipping giant Mediterranean Shipping Company (MSC), intended to boost rail and sea connections across Italian and European ports, according to RailwayTechnology.
The MoU sets out the creation of a “NewCo” which aims to expand freight transport logistics across the maritime and rail sectors.
The new company will be jointly owned and operated. Mercitalia Logistics, a subsidiary of FS, will maintain a 51% stake, while Medlog, a company under MSC, will operate a 49% stake.
As a result of the agreement, additional terminal capacity will be created, boosting port services and providing a competitive alternative to road transport, as well as movement on the Italy-Northern Europe axis.
This announcement follows the companies signing a previous MoU in 2022, which focused on finding mutual interest in a combined maritime business.
In October, MSC announced a binding agreement to acquire a 50% stake in Italo, with the dealing giving the Italian high-speed rail operator an enterprise value of €4.2bn ($4.4bn).