Baltic States – CIS, EU – Baltic States, Good for Business, Latvia, Railways, Transport

Vanags explains that Euro Rail Trans will not take away other companies' cargo, instead, the company will attract new cargo. Euro Rail Trans main partner is Russian Railway Logistics, which will be able to attract such clients that LDz Cargo would most likely not be able to do, writes LETA.

To implement the project in one and a half year, Euro Rail Trans plans to invest EUR 20 million (LVL 13.8 million). This amount, however, must be calculated together with share capital investments – LVL 2.5 million.

The company's goal is to buy locomotives and create its own locomotive park. During the first stage, Euro Rail Trans will purchase three locomotives, later on – nine. The company intends to purchase a total of 16 locomotives, ensuring its cargo transportation. "We are already implementing the first state and will buy the first locomotives this year," emphasizes Vanags.

Euro Rail Trans plans to service 2.9 million tons in 2012, 4.75 million tons in the second year, 7.3 million tons in the third year, and 7.7 million tons in the fifth year.

As reported, Euro Rail Trans was registered in March. The company's share capital amounts to LVL 2.45 million, according to the Register of Enterprises Lursoft database.