AKM reported that RZHD can acquire 50% in Ulan Batorskaya Railway by year end.
The company said that now this stake is held by the Russian government. Now the rights transfer is under way.
Besides, the agreement on the development of Ulan Batorskaya Railway is under development to be signed by RZHD after the share purchase.
In Dec. 2008 RZHD and Mongolia Transportation Ministry signed a protocol on the development of the terms on the cooperation in the railways sector development. It can become the transit corridor for the cargo delivery from China to
Europe. The cargo turnover now gains USD 600 billion.
UBZHD was founded on the basis of the agreement reached between USSR and Mongolia in 1949. The railway covers 1.753ths kilometers.
(Sourced from AMK)
