Russian Railways, GEFCO, a subsidiary of Russian Railways, and Public Joint-Stock Company (PJSC) Severstal have signed a memorandum of cooperation.

The memorandum was signed by the President of Russian Railways Oleg Belozerov, the Chairman of the GEFCO Board Luc Nadal, and the Chairman of the Board of Directors of Severstal Alexey Mordashov.

The signing ceremony took place at the St. Petersburg International Economic Forum on 17 June 2016.

The purpose of the memorandum is to develop partnerships in the field of logistics and commercial activities.

The signatories intend to work together to increase the freight base, meet the needs of PJSC Severstal for rail transportation and ensure the stable operation of Russian Railways.

As part of the memorandum’s execution, Russian Railways intends to carry out the export of steel products, metal products and raw materials from PJSC Severstal’s production enterprises in accordance with agreed requests and to cooperate on supplying products.

GEFCO will work on the optimisation of solutions for transport and logistics processes at PJSC Severstal and help to increase the volume of freight transportation by rail.

(Source: RZD)