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Russian Railways and Novolipetsk Steel to Set up $7.7m Gryazi Depot

National rail operator Russian Railways and Novolipetsk Steel's Nezavisimaya Transportnaya Kompaniya (NTK, Independent Transport Company) intend to set up a joint venture Gryazi to repair cargo rail cars.

The JV has reportedly registered with the Federal Financial Markets Service (FFMS) $7.7m newly issued shares.

The founders are to get even shares in the JV, with the Russian Railways to invest depot property and NTK is to contribute monetary funds.

Gryazi depot is located 38 kilometers from Novolipetsk Steel in the Lipetsk Region.

Source: marchmontcapital.com
27.08.2010 00:00