INTERNATIONAL: Railway investment and management company Railroad Development Corp has appointed Dr Juan de Dios Olaechea as Managing Director, International Business Development, with initial target markets of Latin America and worldwide mining-related opportunities.
Olaechea is a founding shareholder of Peru’s Ferrocarril Central Andino, and will retain his role as Chairman.
‘FCCA, historically known as the “hardest and highest” is one of the most difficult railway operating environments in the world’, said RDC Chairman Henry Posner III. ‘Its heavy dependence on mining has made it subject to among other things international fluctuations in commodity prices and omnipresent truck competition. All of this is excellent background for his new and expanded role.’
Posner said ‘there are numerous opportunities that share common elements with our collective experience and expertise, and we are confident that there will be new projects that are both interesting economically and valuable to the communities that they serve.’
RDC President Bob Pietrandrea said ‘one of our proudest achievements has been to be Juan’s partner in the establishment and development of FCCA. We believe that we can replicate that experience elsewhere, especially given the current turmoil in today’s markets and the shocks to supply lines.’