Russian Railways to create freight subsidiary
Russian Railways to create freight subsidiary
selon http://www.eyefortransport.com/
---------------------------------------
The Russian Railways management board has discussed the creation of a freight subsidiary, and a plan is to be recommended to the company’s supervisory board with a view to the new company becoming operational in January 2007.
(7/17/2006)
Russian Railways believes that spinning off the freight business would solve four main tasks:
Guarantee competitiveness of Russian Railways’ freight business by offering similar tariff conditions to other players on the goods transportation market
Guaranteed transparency, increased financial efficiency and the end of cross-subsidies to other types of transportation
Increased investment attractiveness of the freight company, allowing it to raise the funds necessary to renew the rolling stock
The ability to sell a minority stake through an IPO and allocate the funds raised to the renewal of rail infrastructure
According to the plan, Russian Railways will be the founder and virtually the sole owner of the new freight company, holding all the shares minus one. The second shareholder will be ZhelDorReform, the railway reform body, which will receive a preference share.
The charter capital of the new freight company will consist of 564,000 freight wagons; other types of rolling stock will not be included. It is planned that the new company will act as an operator on the market.
The new company’s freight volume is forecast to reach at least 1.35 billion tons per kilometre, with expected earnings of 90 billion roubles by 2010. Profitability is planned at 20%. If these targets are reached in accordance with the business plan, the company will not only be able to cover fully all its operational costs, but will also generate a significant profit.
Russian Railways expects the new freight company to be fully competitive with private operators in terms of pricing and service levels.
selon http://www.eyefortransport.com/
---------------------------------------
The Russian Railways management board has discussed the creation of a freight subsidiary, and a plan is to be recommended to the company’s supervisory board with a view to the new company becoming operational in January 2007.
(7/17/2006)
Russian Railways believes that spinning off the freight business would solve four main tasks:
Guarantee competitiveness of Russian Railways’ freight business by offering similar tariff conditions to other players on the goods transportation market
Guaranteed transparency, increased financial efficiency and the end of cross-subsidies to other types of transportation
Increased investment attractiveness of the freight company, allowing it to raise the funds necessary to renew the rolling stock
The ability to sell a minority stake through an IPO and allocate the funds raised to the renewal of rail infrastructure
According to the plan, Russian Railways will be the founder and virtually the sole owner of the new freight company, holding all the shares minus one. The second shareholder will be ZhelDorReform, the railway reform body, which will receive a preference share.
The charter capital of the new freight company will consist of 564,000 freight wagons; other types of rolling stock will not be included. It is planned that the new company will act as an operator on the market.
The new company’s freight volume is forecast to reach at least 1.35 billion tons per kilometre, with expected earnings of 90 billion roubles by 2010. Profitability is planned at 20%. If these targets are reached in accordance with the business plan, the company will not only be able to cover fully all its operational costs, but will also generate a significant profit.
Russian Railways expects the new freight company to be fully competitive with private operators in terms of pricing and service levels.