SES rail operators sign schedule to set up united logistics company

           A schedule for the establishment of the United Transportation and Logistics Company (UTLC) has been signed in Kazakhstan’s Astana. The document was signed by first deputy head of Belarusian Railways Vladimir Mikhailyuk, President of Russian Railways Vladimir Yakunin and President of Kazakhstan Temir Zholy Askar Mamin.  The agreement to set up the UTLC was signed by heads of the railways of Belarus, Russia and Kazakhstan in St. Petersburg in June 2013. During the international railway business forum Strategic Partnership 1520: Central and Eastern Europe, held in Minsk in October, the sides signed an agreement on the basic principles of the operation of the UTLC. The project is expected to result in significant financial benefits for both shareholders and the member countries of the Single Economic Space (SES). The national rail operators are estimated to rake in about $1.6 billion in additional revenue from using the new infrastructure by 2020. A cumulative contribution to the GDP of the SES member states will total $11.3 billion, including about $1 billion for Belarus, about $5 billion for Russia and $5.3 billion for Kazakhstan.