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    RUSSIAN RAILWAYS FORMS JOINT CONTAINER SHIPPING COMPANY

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    MOSCOW, March 12 (RIA Novosti) - Russian Railways, a joint stock company, will create a joint company with the Far East sea shipping company to transport containers, the head of Russian Railways, Gennady Fadeyev, said at a press conference.

    "It will be a strong player in the world transport market," Mr. Fadeyev said.

    According to him, the company was created on a parity basis and will deliver containers "door to door."

    To ensure that the company will be competitive its owners are going to spend up to $50 million to purchase containers, said Mr. Fadeyev. He added that the company would begin operations in the second half of 2004.

    The next step, according to Mr. Fadeyev, will be the creation of the similar company to transport containers on roads.

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