THE Polish Office of Competition and Consumer Protection (UOKiK) has approved the creation of a joint venture (JV) between Polish freight operator PKP Cargo and Lithuanian freight operator LTG’s Polish subsidiary, LTG Cargo Polska.
PKP Cargo told the Warsaw Stock Exchange in late April it was reviewing what, if any, further competition authority approvals will be required before the new company can begin operation.
The agreement to establish a joint intermodal operator was signed during the Polish-Lithuanian government summit in September 2020 and forms part of PKP Cargo’s strategy to expand its European operations. Both company’s share capital in the partnership is worth Zlotys 1.3m ($US 340,000) with each partner holding a 50% share.
The new JV plans to offer intermodal rail transport from Lithuania to Poland, and from both countries through to Germany and Italy. The JV will also operate block trains for specific customers including the transport of hazardous goods.
LTG Cargo has recently expanded its operations in Ukraine, offering rolling stock leasing, freight forwarding and other freight transport services.