Russian Federation aluminium titan U.C. Rusal announced yesterday an agreement with state-owned vertically-integrated railway firm Russian Railways OJSC (RZD) on transporting agreed cargo volumes.
Few details of the agreement were made public in the release, but Rusal did confirm that cargo to be transported under the deal would be presented in accordance with schedules already arranged with Russian Railways. Additionally, Rusal indicated that it was mulling maintaining shipping volumes that were in place during the previous year.
Rusal says that Russian Railways will haul the agreed-upon volumes of its cargo under a flexible tariff policy that aligns with policies set forth by the Russian government and that is of benefit to both parties.
Evgenii Nikitin, Rusal’s CEO, noted the stability that this agreement is expected to offer to both parties.
“Rusal has always been interested in establishing long-term mutually beneficial cooperation with Russian Railways, our long-standing and reliable partner. This agreement will further reinforce our business relationship, allowing us to optimize logistics and ensure the stable operation of enterprises and the development of the supply chain to customers.”
The agreement, which was signed at this week’s St. Petersburg International Economic Forum, was executed by Chief Executive Officer and Chairman of the Executive Board of RZD Oleg Belozerov and Rusal CEO Nikitin.