BRUNSWICK Rail Leasing has been formed as a Russian rolling stock leasing joint venture of Brunswick Capital and Transgroup AC. Over the next five years BRL plans to invest US$200m, aiming to acquire a fleet of 10000 wagons by 2008.

On August 26 Brunswick Capital Chairman Christopher MacKenzie met Russian Railways Minister Gennadi Fadeyev. The Minister welcomed the formation of the new company, but warned that ’leasing will not resolve the need to renew rolling stock, neither in this year nor in the foreseeable future.’

RZD currently leases some rolling stock, and plans to lease around 9000 wagons this year, but this is a small proportion of the fleet. Fadeyev said the top priority was channelling investment into rolling stock manufacturing, as the existing factories cannot meet demands for 1000 new vehicles/year. He said companies should consider investing in manufacturing plants, as well as buying and leasing stock.

Projects the Ministry considers suitable for involvement of private investors include an EMU assembly plant planned for the repair works at Samara, and the establishment of new production lines at Krasnoyarsk. On July 30 Fadeyev attended a ceremony to mark the completion of the first stage of the construction of Vladikavkaz Railcar Repair Plant in the Republic of North Ossetia-Alania,

  • The Ministry, Vyksunsk Matallurgical Plant, Gorky Railway and United Metallurgical Co have signed an agreement to co-operate in mass producition of wheelsets until 2010.