OREANDA-NEWS. March 14, 2008. The founding meeting of the joint venture Trans Eurasia Logistics was held on March 4, 2008 in Berlin.

Setting up the jv became possible after approval from Germany's competition authorities. The founding companies hold the following stakes in Trans Eurasia Logistics' authorised capital: Russian Railways - 30%, DB Mobility Logistics - 30%, TransContainer (a subsidiary of Russian Railways) - 20%, Kombiverkehr - 10% and Poltzug - 10% .

The main aim of starting the new company is to increase the volume of goods transported by rail between Europe and the CIS countries by improving the quality of transport services and creating a unified and competitive through service to provide for door-to-door freight transportion.

Trans Eurasia Logistics will be registered in Berlin in the near future, and its subsidiary will be registered in Russia Trans Eurasia Logistics.

On June 21, 2007, an agreement to set up and run the joint venture was signed by Vladimir Yakunin, president of Russian Railways, and Hartmut Mehdorn, chairman of Deutsche Bahn AG. A Letter of Intent was also signed by all the parties involved in the jv.