Russian railway company RZD will receive a blocking stake of 25% in the company which is being established to build and use ferries on the Ust-Luga-Baltiysk line, following an order given to the Transport Ministry in February.
The ferry line Ust-Luga-Baltiysk was launched in 2006. The two current ferries are to be written off soon. The government is ready to allocated 5.1 billion rubles (82.2 million euros) for construction of ferries.
Lukoil, Tatneft and Russian Coal are the main clients of the line; Kaliningrad returns empty cisterns or agricultural goods. RZD plans to sign take-or-pay agreements with future suppliers.
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