German-based VTG AG, the largest European operator of railway rolling stock fleet, is close to finding a Russian partner to expand its tank-container transport business.

The tank-container transport business unit is the smallest of three VTG units and serves only the chemical industry.

A decline in European chemical production led to the decline in tank-container transport business unit’s revenue and forced VTG to expand its operations in Russia.

The company refused to disclose the name of the Russian partner, reports Bloomberg.