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Russian stake in Latvian freight forwarder

russian railways logisticsPRESS RELEASE

April 09, 2015: JSC Russian Railways Logistics (RRL) has taken a 50 percent stake in Latvian freight forwarder SIA 'Liepajas naftas tranzits' (LNT) through its partner RZDL Multimodal B. V.

RRL plans to set up a rail link to the ports of Latvia and the new project will allow RZDL to provide the stability and regularity of westbound rail services. At the same time RRL will provide LNT with legal support in the Russian freight forwarding market.

According to Pavel Sokolov, RRL CEO, the combination of both companies experience and market knowledge will increase the effectiveness of LNT as a rail freight forwarder.

"Russian Railways Logistics as a part of the United transport and logistics company develops business in Europe and Asia as a priority. Currently we have a joint venture JSC Euro Rail Trans operating at that area (sic). 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," Sokolov said.

RRL has 23 branches in Russia and works in cooperation with more than 250 partners and has launched four joint ventures – Far East Land Bridge, RZDL Multimodal B.V., Euro Rail Trans and Black Sea Ferries limited.

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