Russia’s ICT Group Forms Venture With Mitsui to Lease Railcars

Russian billionaire Alexander Nesis’s ICT Group said it formed a joint venture with Mitsui & Co. Ltd. to lease railcars in Russia.

The partners will invest $100 million in the project and may boost the total to $500 million in the future, according to an e-mailed statement today from ICT, which produces railcars near St. Petersburg. The venture is set to begin in April.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.