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SERBIA, CROATIA AND SLOVENIA ESTABLISH JOINT RAILWAY OPERATOR



Representatives of the Croatian, Serbian and Slovenian national railway operators in Belgrade on Thursday signed a protocol on the establishment of a joint railway company called Cargo 10, marking the continuation of work on the establishment of a joint company for the purpose of providing faster freight transport services along the pan-European transport corridor 10. The protocol is to be ratified by all three countries, the joint company will be based in Ljubljana.The protocol is to be ratified by all three countries, the joint company will be based in Ljubljana and Robert Vuga will be its first director. The first train will set out from Ljubljana on October 1, the Serbian news agency Beta reported.

Each of the three railway operators will own one-third of the joint company's stock, and profits will be divided accordingly.

Vuga said that the joint company would have at its disposal five percent of all trains of the three railway companies and that major infrastructure investments were not planned in the initial period.

Cargo 10 will be an important player in railway transport, Vuga said, adding that the duration of customs procedures on border crossings would be shortened to enable a faster passage of trains of the joint railway company.

Montenegro and Macedonia did not agree to join the new company, but they will be a part of a wider alliance and have certain benefits from it, it was said.

Croatia, Serbia and Slovenia in Belgrade signed a declaration supporting the establishment of a joint company to provide faster freight transport services along the pan-European transport corridor 10.

/SEEbiz/



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