Russian Railways Retains a 50% Stake in Ulaanbaatar Railway JSC for Another Five Years

Russian Railways (RZD) will continue to hold a 50% stake in the charter capital of Ulaanbaatar Railway JSC for another five years, as per a decree issued by the President of Russia. This move is expected to ensure the stable operation and further development of railway connections in Mongolia and the routes linking Russia to China.

This decision is anticipated to facilitate the efficient functioning and expansion of Mongolia's railways, the backbone of the country's transport system, according to a statement provided to Gudok by the Institute for Transport Economics and Development (IEDT).

The institute believes that the decree will contribute to the advancement of the Russia–Mongolia–China economic corridor. Current efforts are focused on establishing this corridor in accordance with the memorandum of understanding and the development program signed in July 2015 by Russia, Mongolia, and China. Such initiatives strengthen transport-economic ties between the countries and promote the growth of international trade, as noted by IEDT.

Source: Gudok (12.11.2024, 13.11.2024).