Moriya will now start to set up the administrative and managerial functions of the new company. It is planned to find a private investor to take a 51% stake in Rail Cargo, which will have exclusive rights to transport railfreight in Israel.
The objective of forming Rail Cargo is to expand freight logistics services to provide door-to-door services and offer ancillary activities such as storage, bonded warehousing, and freight dispatching. Rail Cargo's annual turnover is expected to exceed $US 80m by 2020.
Moriya, who was one of 25 candidates for the position, was finance and operational deputy general manager of Yes, a satellite communications company, and general manager of Yishfar Investments.
Kathriel Moriya, GM Rail Cargo.