Aspired to enhance cooperation with the largest Russian transport company, JSC Russian Railways (the RZhD) VTB Bank has granted it a RUB 80 mln credit line.
JSC VTB Bank is aimed at developing long-term partnership relations with the RZhD. Citing Andrey Burlinov, senior vice-president, “Mutually reinforcing cooperation between VTB and RZhD is sure to contribute to streamlining and expanding the rail way infrastructure, a strategically important segment for the country, and to promote the development of the Russian transport industry as a whole”.
Open joint-stock company “Russian Railways” was established by the Russian Government in September 2003. The Russian Federation is the only shareholder of the Company.
Russian Railways is one of the largest transport companies in the world, with 85,200 km of track. The RZhD is responsible for 39% of Russia’s total freight traffic (including pipelines) and more than 41% of passenger traffic. For 9 months of 2011, freight traffic amounted to 1.6 billion tariff ton/km, with passenger traffic reaching 108.7 billion pass/km.