OREANDA-NEWS. August 3, 2007. The First Freight Company, a subsidiary of Russian Railways, was registered on July 26, 2007 by the inter-district inspection of the Federal Tax Service № 46 in Moscow.

The First Freight Company will be led Salman Babaev, Vice President of Russian Railways.

In accordance with the market model for rail transport services, the First Freight Company was created as an operator of rolling stock, while for its part Russian Railways will retain its status as a shipper and continue to fulfil its obligations under Russian transport legislation.

According Babaev, the First Freight Company will obtain about 200,000 mostly special purpose rail cars.

Part of the rail cars transferred to the First Freight Company as charter capital will d remain in the use of Russian Railways during the transition period. An appropriate agreement will be signed between the two sides.