Source Pravda.Ru

Brunswick Capital may help Russian Railways Ministry replenish rolling stock

Russian railways are desperately in need of new rolling stock and the Railways Ministry is keen to collaborate with any investors who are willing to help purchase new passenger and freight carriages and locomotives. According to the press office of the Russian Railways Ministry, this was announced by Railways Minister Gennady Fadeyev at a meeting with CEO of Brunswick Capital Christopher Mackenzie on August 26.

Mr Mackenzie informed Mr Fadeyev of the new enterprise Brunswick Rail Leasing (BRL), which has been formed together with Russian Transgroup, and provides rolling stock rental and leasing. BRL is expected to invest about USD 500 million in its own rolling stock over the next five years and, according to Mr Mackenzie, the company is hoping to collaborate with the Russian railways sector.

However, Mr Fadeyev insisted that the ministry's prime objective is to invest its own funds in transport construction and attract investment from private companies. A leasing system, the minister stressed, will not solve the problem facing the Russian Ministry, which needs to replenish its own stock.

Mr Fadeyev proposed that Brunswick Capital reconsider the possibility of collaborating with Russian railways by investing in rolling stock for different purposes.

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