Azerbaijan, Russia set up joint venture

Azerbaijan, Russia set up joint venture
17:46 10 Oktyabr 2016
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Baku, October 10, AZERTAC

Azerbaijan Railways and Rusagrotrans, Russia's largest operator of rail transport of grain, have set up AzRusTrans joint venture in order to increase turnover between Azerbaijan, Russia, Iran, Georgia and Turkey.

Addressing the presentation ceremony, chairman of Azerbaijan RailwaysJavid Gurbanov said that this is the first joint venture set up in the framework of the North-South project. Stressing the importance of this project for the whole region, Gurbanov said that the construction of a railway bridge between Azerbaijan and Iran nears its completion. He also said that a terminal will be built in the city of Astara (Iran).

Gurbanov also said that Azerbaijan Railways owns a 51 per cent stake in the company, while 49 per cent is owned by Rusagrotrans.

“The main goal of the company is to increase cargo transportation through Azerbaijan,” Gurbanov said. “Tentatively, the car fleet of the company amounts to nearly 75,000 cars, and currently, this is a record figure in the CIS.”

He added that AzRusTrans, managing the fleet of 3,500 vehicles, expects to transport up to 2 million tons of cargo each year by transit through the territory of Azerbaijan by 2020 and to increase this figure to 5.5 million tons in the future.”

AzRusTrans organizes transportation of various cargoes, including grain and other bulk agricultural goods, timber, fertilizers, construction, container, packaged and bulk cargoes.

AZERTAG.AZ :Azerbaijan, Russia set up joint venture