EBRD to finance Globaltrans fleet investment

RUSSIAN private railfreight operator Globaltrans has signed a Roubles 2.5bn ($US 76.7m) seven-year loan agreement with the European Bank for Reconstruction and Development, which will help it to fund 10,000 new wagons and the acquisition of new locomotives when the liberalisation of the Russian locomotive market is completed.

All 10,000 vehicles have already been delivered, and Globaltrans recently placed an additional order for a further 958 wagons, which will be delivered by the end of August. The purchase of these vehicles, together with the recent acquisition of Metalloinvesttrans, which owns 8256 wagons, means Globaltrans has expanded its wagon fleet by 47% since the end of last year.

Globaltrans increased its freight volumes by 14% last year and now has a 5.6% share of the Russian railfreight market.

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