OAO RZD and Deutsche Bahn sign agreement to set up and manage shipping and logistics company

Vladimir Yakunin, president of Russian Railways, and Hartmut Mehdorn, Chairman of Deutsche Bahn, have signed an agreement to set up and manage a shipping and logistics company,  RZD-Partner reports.

The two men also signed a Memorandum of Intent and a General Agreement on Conditions for Cooperation between the two companies.

The new logistics company will organise freight shipments between Western Europe and the Commonwealth of Independent States (CIS) by rail and other means of transport.

In addition to Russian Railways and Deutsche Bahn, TransContainer, a Russian Railways subsidiary, and two German companies, Kombiverkehr and Polzug, will also be shareholders in the new joint venture, which will set up two main offices in Moscow and Berlin to manage operations in Russia and Germany, reports OAO RZD press service.