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Kazakhstan’s Eastcomtrans to spend $30M on new rolling stock
Published: Fri, 2015-01-02 12:30-
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New rolling stock purchases
Kazakhstan’s rail freigh operator Eastcomtrans is planning to spend about $30 million to acquire new rolling stock. The company, which is one of the leading private rail operators in the Kazakh market, has secured the funds for its forthcoming investments from the European Bank for Reconstruction and Development (EBRD).
„The financing will be used to purchase up to 500 [gondola cars] or other assets used to transport general cargo,“ the bank said in a statement. „Work continues on a second part of the financing package, which will see the EBRD lend a further $25 million to Eastcomtrans.“
The Kazakh firm says it operates a fleet which consists of more than 12,900 units of rolling stock.
Thomas Maier, the managing director for infrastructure at the bank, said the EBRD is pleased „to arrange this financing for Eastcomtrans and to increase our support of the private sector’s role in Kazakhstan’s infrastructure, which is one of our priorities in the country.“
On a related note, the latest rail project follows an earlier investment loan provided by the EBRD to the country‘s state-run railways company Kazakhstan Temir Zholy (KTZ) this year with the aim of financing the acquisition of equipment for logistics and infrastructure maintenance. The project is designed to increase Kazakhstan’s transit potential and also to strengthen the security of passenger rail transportation. The EBRD will provide some €121 million ($147 million) to the company, according to figures from the bank.
KTZ manages Kazakhstan‘s railway system and operates passenger and freight rail services, handling about 50% of its rail freight activities. The loan will be made to KTZ and its subsidiaries, KTZ Express and KTZ Lokomotiv.
Av Jaroslaw Adamowski
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