OREANDA-NEWS. On June 19, 2007 Russian Railways, Deutsche Bahn, Polish Railways and Belarus Railways have signed an agreement at 70th General Assembly of the International Union of Railways (Union Internationale des Chemins de Fer – UIC) now being held in Moscow to set up Eurasia Rail Logistics, reported the press-centre of  Russian Railways.

The aim of the joint venture is to improve the quality of transport services and increase the volume of rail freight between Russia and Western Europe along International Transport Corridor Number 2 between Berlin, Warsaw, Minsk, Moscow and Nizhny Novgorod.

The four sides hope to optimise the transportation of freight by introducing unified documentation, developing the exchange of information between the companies and the authorities and reducing delays and resources at the technological bottlenecks of the different rail systems.

Eurasia Rail Logistics has been registered in Moscow and has a charter capital of 1,67 million roubles. Russian Railways holds a 40,1% stake, Raillion Deutschland AG 34,9%, Polish Railways 15% and Belarus Railways 10%.

Sergei Kozyrev, vice president at Russian Railways, will represent the Company at Eurasia Rail Logistics’ shareholder meetings.