Rail tie-up for Poland/ Lithuania
NewsLTG Cargo of Lithuania, PKP Cargo of Poland and LTG Cargo Polska (LTG’s Polish affiliate) have signed an agreement to provide intermodal services on a joint venture basis.
Lithuania, China joint rail venture
Lithuanian Railways and China Merchants Group have established a joint venture company to handle freight transportation between Lithuania and China via Kazakstan, Russia and Belarus
Operations under the new agreement between Lithuanian Railways (LG) and China Merchants Group (CMG) should commence in the first half of 2016 and the first cargo will be a shipment for the “Great Stone,” an industrial park presently being built near the city of Minsk in Belarus. The shipment will be transferred via the port of Klaipeda.
CMG holds a 20% share and plans to invest around US$500M. CMG is one of the largest Chinese state-owned companies with an annual profit of around €3.9B.
"We are constantly looking for opportunities to handle China’s freight and ways to get established in its logistics map," said LG's Deputy Director General Albertas Simenas. The joint venture is looking at the possibility of setting up container blocktrain landbridge services.
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