Polish railway freight operator LOTOS Kolej, subsidiary of Grupa LOTOS S.A., has launched its rail freight operations in Germany.
“It took us several years to analyse the feasibility of entering into the German rail freight market. We carefully planned our every step and today we are glad to be able to run the first train that will carry cargo from Poland directly to a customer in Germany”, said Henryk Gruca, LOTOS Kolej CEO.
The rail freight services in Germany will be provided using TRAXX Bombardier electric multi-system locomotives operated by LOTOS Kolej.
LOTOS Kolej also transports cargo to terminals on the borders with the Czech Republic, Slovakia and Belarus. The company is planning to launch a rail freight service to the border with Lithuania, which will help it expand its service network along the East-West corridor.
It should be noted that the Management Board of Grupa LOTOS S.A. plans to carry out an IPO of LOTOS Kolej shares. The company should be ready to go public in Q4 2016. The exact timetable and method of floatation will depend on the results of detailed analyses and on the situation on the capital market.
In 2014, the company transported 10.6m tonnes of cargo. The plan for this year is to move over 12m tonnes of cargo. The carrier’s current share in the Polish market (by tonne-kilometres) is just under 10%.