ICT Group hooking up with Mitsui

According to Kommersant (19 December 2012), ICT Group, which holds interests in Uralkali and Baltic Leasing and manages a portfolio of assets, including Polymetal, Nomos-Bank and Khanty-Mansi Bank, is establishing another rail leasing company, this time with Mitsui.

The partners will each 50 per cent in the joint venture, investing initially approximately USD 100 million. At current prices this enable the partners to acquire 1,200-1,300 new rail cars. The JV will acquire the rail cars from the Tikhvin Freight Car Building Plant that ICT Group has been building since 2008.

In May 2011 ICT Group registered another leasing company Rail 1520, which also acquires rail cars from the plant

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