The first stage to establish the United Transport and Logistics Company of Russia, Belarus, and Kazakhstan (UTLC) is about to end on schedule, Belarusian First Deputy Transport Minister Yevgeny Rogachev said, BelTA reports.
According to his statement, Belarusian Railways has contributed RUB 32.7 million (USD 503 thousand) to the authorized fund of the company to be established.
“We expect that in the near future the Kazakh side will transfer its monetary contribution and honor its commitments. The operational model for the group has been approved. Participants of the project now have general understanding of how the system will operate, how the authority and competence will be distributed. In essence the basic rules that all the companies of the UTLC group will follow in their working with clients have been adopted,” Rogachev said.
United Transport and Logistics Company was registered by the universal state registry of corporations in Moscow in November 2014. The charter capital of the new company was RUB 39.7 billion (USD 610.4 million).
According to the business plan, UTLC’s overall freight turnover is supposed to exceed 4 million TEU by 2020.
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