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Russia and Cuba to form joint transport and logistics company

Russian UVZ-Logistic, part of Uralvagonzavod, El Grupo Empresarial de la Industria Sidero-Mecánica’ (GESIME), a Cuban ferrous metallurgy and machine-building group, and Cuban Union Railways (UFC) have signed an agreement on the creation of a joint transportation logistics company and the modernization of ‘Planta Mecanica’ machine-building plant.

The new joint Russian-Cuban company (TLK) aims to to improve the efficiency of the organization of the transport process of Ferrocarriles de Cuba and the level of customer service and will assemble and maintain the rolling stock freight for Cuban railways. Today, the total volume of the operational rolling stock fleet of Ferrocarriles de Cuba is about 10 thousand units, including rail cars, hoppers and box cars.

The company will start operating by the end of 2015 and will get financing by 2016. “The total investment package from Russian banks will be about EUR 20-25 million”, stated Dmitry Eremeev, CEO UVZ-Logistik.

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