On June 4, 2019 in Moscow JSC "NC "Kazakhstan Temir Zholy", Russian Railways and Belarusian railways SA signed a joint-Stock agreement (corporate agreement) in respect of JSC "United Transport and Logistics company - Eurasian rail Alliance" (UTLC ERA).
The document was signed by Chairman of the Board of JSC "NC "KTZ" Sauat Mynbayev, Chief Executive Officer and Chairman of the Board of Directors of Russian Railways Oleg Belozerov and head of the Belarusian railways State Association Vladimir Morozov.
The joint-stock agreement establishes the intention of the Railways of Kazakhstan, Russia and Belarus to continue the integration of transit traffic through the territory of the Eurasian economic Union (EAEU).
The corporate agreement regulates the rights and obligations of the parties involved in relation to the block of shares of JSC UTLC ERA. All three shareholders have an equal number of votes, as the shares are distributed on a parity basis between JSC NC KTZ, RZD JSC and Belarusian railways SA – by 33.33%.
The signed document covers a wide range of issues related to the management of the Company and the circulation of shares. The agreement defines new provisions of the dividend policy, the order of rotation of the position of the Chairman of the Board of Directors, the mechanism of conflict resolution in the process of managerial decision-making.
"Joint implementation of UTLC is a great contribution to the development of Eurasian economic integration. And it is important to ensure close coordination, coherence of our actions",- said Sauat Mynbayev.
The activities of the UTLC ERA are aimed at the development of transit container traffic in the direction of China – Europe – China. In 2015, 47.6 thousand TEU were transported along this route within the project, and in 2018 – more than 280 thousand For 5 months of 2019, the total volume of transit container traffic amounted to 123.4 thousand TEU, of which 82% is the share of traffic through the territory of Kazakhstan.
The press-service of JSC "NC "Kazakhstan Temir Zholy”