Russian Railways (RZD) has announced plans to create in H1 2017 a joint venture company in Greece for providing rail transport, Russian press informed quoting the RZD’s vice president, Aleksandr Misharin. RZD has already sent proposals for the establishment of the operator to the Greek Ministry of Transport.
In Serbia, RZD International, a subsidiary of Russian Railways, also plans to acquire stake in a Serbian company dealing with infrastructure maintenance. According to Misharin, the transaction will be completed in H1 2017.
Since March 2014, RZD International has been implementing a contract for construction and reconstruction work on Serbian railway infrastructure. The contract was concluded as part of an agreement for a government export credit to the Republic of Serbia for USD 800 million between the Government of the Russian Federation and the Government of the Republic of Serbia. The total value of the contract is USD 941 million.
India, Brazil and North Africa are other markets that RZD targets.