Russian Railways (RZD) received an official permit from the Government of the Russian Federation to contribute the property of Gryazi Car Repair Depot to the authorized capital of the joint venture with Independent Transport Company. RZD will contribute 22 facilities, including deport, to the authorized capital of the newly established Car Building Company “Gryazi”. The market value of the property makes 118.4 million rubles. Independent Transport Company will transfer the same amount to the joint venture. As a result, Independent Transport Company will own 50% +1 share of the company and RZD will hold the rest of the shareholding. Independent Transport Company, as the majority shareholder, will have to raise 500 million rubles before 2010 for the reconstruction and technical re-equipment of the depot which is to be finished in 3-5 years. (USD1 = RUB29.0488)

• Source: Gudok