BRUNSWICK Rail Leasing has announced plans to establish a Russian leasing fleet of around 10000 wagons valued at US$500m by 2008.

The first 250 mineral wagons of a batch of 500 being built at Stakhanovsky Wagon Plant have been handed over to Voskresensk-based fertiliser firm FoaAgro, which has signed a five-year lease.

Brunswick Rail Leasing expects to finalise further leasing agreements covering a total of 1500 wagons worth US$50m by the end of the year. Customers will be able to choose where the rolling stock they require is built, subject to signing orders for a minimum of 100 vehicles.