Russian Railways Logistics has acquired a 50% stake in Latvian rail freight company Liepajas naftas transits (LNT) through its affiliated partner RZDL Multimodal.
The new development is part of Russian Railways Logistics’ strategy to expand its rail freight market and establish a consolidated rail transport chain connected with the ports of Latvia.
Russian Railways Logistics CEO Pavel Sokolov said that the experience and market knowledge of both the companies will boost the effectiveness of LNT as a rail freight forwarder.
Sokolov said: "We believe that the cooperation with the Latvian based freight forwarder will give us a lot of new opportunities at multimodal-transport market of EU."
As part of this development, Russian Railways Logistics will provide a range of law support to LNT in the field of freight forwarding market of Russia.
This new combination is also expected to allow RZDL to provide the stability and regularity of rail westbound transit.
In February, JSC Russian Railways Logistics agreed to collaborate with one of the largest Russian foundry engineering JSC Siblitmash, which offers a range of services related to raw material delivery and export of finished products.
Railways Logistics is part of the United Transport and Logistics Company (UTLC), which provides reliable transportation services, storage and freight forwarding worldwide and organises supply chains and complex logistics service for industrial enterprises.