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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.

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