Sibur selling LPG rail cars fleet to Rail Garant
Sibur plans to sale its fleet of 4,364 liquefied petroleum gas (LPG) rail cars to Rail Garant, a rail service provider that specialises in transporting industrial goods in Russia and CIS. The deal is expected to be closed after the requisite approvals have been acquired, including that of regulators. The deal is valued at RUB 11.5 billion (EUR 0.26 billion).
According to the agreement, the entire fleet will be operated by Sibur-Trans, Sibur’s freight operator, after the sale. Half of the fleet will be leased, and the other half may be used by Sibur-Trans for product transportation under a service contract.
Sibur-Trans will continue its operations within the Sibur group to ensure reliable transport of the company's products and to help develop non-public railway tracks. (ben)