RZD Logistics will be used as the basis for the new company in which each railway will have an equal shareholding.

The three railways will contribute assets to the new venture. RZD will transfer its holding in TransContainer, KTZ will transfer shares from some of its subsidiaries, and BC will transfer ownership of its Brest terminals and assets its subsidiary Belintrans.

Mr Vladimir Yakunin, president of RZD, says considering the dynamic development of western and central China, the new venture should be able to attract additional traffic to rail of up 1 million TEUs by 2020. "This is about 2% of anticipated container flows between Europe and Asia," he says.