Why “uz” created a subsidiary company

JSC “uz” (UZ) has established a subsidiary OOO “UZ cargo Wagon”. It will be the owner of freight wagons, which will be delivered under the loan agreement with the European Bank for reconstruction and development (EBRD). According to acting Chairman of the management Board of ULTRASONIC Evgeny Kravtsov, who is quoted in the message of the company, it will allow to establish the real market rates for freight.

In the BONDS specify that the new company was registered on 6 Nov 2018. According to the Unified state register of legal entities, individuals-entrepreneurs and public formations of the Ministry of justice of Ukraine share capital is 1 million UAH. Its sole founder is JSC “Ukrzaliznytsya”. The head of the company listed Andrey Miroshnikov, who is also the Deputy Director of the branch Centre of transport logistics of JSC “Ukrzaliznytsya”.

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When the new company will receive the first cargo wagons?

Yesterday, November 9, 2018 BONDS and the EBRD signed a long-term loan agreement with the goal of raising $150 million for the purchase of new freight wagons. According to Evgeny Kravtsov, the tender for the gondolas, the EBRD has already been announced, and first deliveries are expected before the end of the year.

“The agreement signed today is the culmination of almost a year of productive work teams of a Bank and Railways, the government of Ukraine. This is one of the many projects we are implementing together with the EBRD”, the report cited UZ Evgeny Kravtsov.

The loan term is 10 years, including a stipulated grace period of two years for payment of the principal amount of the loan. Loan repayment will occur in 16 equal semi-annual installments starting from October 20, 2020. Suppliers gondolas are elected through an open international tender announced in may 2018. The tender is conducted according to the rules and principles of the EBRD.

Also read: What will change in the “Ukrzaliznytsia” together with the logo

“We see this agreement as such which would contribute to the economy of Ukraine from the point of view of infrastructure development and the improvement of managerial effectiveness, corporate governance and ensuring transparent and efficient procurement procedures,” — said the managing Director of the EBRD in the countries of Eastern Europe and the Caucasus, Matteo Patrone.

On the web page of EBRD procurement is an open tender for the purchase of rolling stock for “Railways” in the amount of USD 260 million, the Deadline ends in January 2019.

“The first supplies of gondola cars is to be held this year”, — said Evgeny Kravtsov. According to him, the suppliers will have 6 months from the date of the conclusion of contracts on the supply of cars.

“Ukrzaliznytsya” has a long positive experience of cooperation with EBRD, including procurement of rolling stock. In the framework of the joint with EBRD commercial project “renewal of rolling stock on the Railways of Ukraine” (credit agreement dated 20.01.2009 on the us $ 125 million) was purchased 640 freight gondola cars for the total amount of USD 34.21 million EBRD is Also helping to implement major infrastructure projects, particularly the construction of the Beskydy tunnel, electrification of the direction Dolynska-Mykolaiv-Kolosivka.

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