Freight One

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OJSC Freight one is a state-owned Russian railways transporter which manages over 190,000 railway cars and ships cargo. In 2010 it shipped 302.3 million tonnes of cargo. Independent Transport Company, a subsidiary of Universal Cargo Holding (UCL Holding) won a tender for a 75% (minus 2 shares) stake in OJSC Freight One in October 2011. The company bid US$4.271 billion (125.5 billion rubles) for the shares. In December 2011, ITC secured a US$ 2,552 billion (75 billion rubles) loan from Sberbank and VTB Capital consortium to pay for the shares. On December 22, 2011, ITC paid the balance of 120 billion rubles to the Russian government (after having paid an initial 5 billion rubles deposit in October) The transport group Universal Cargo Logistics Holding (UCL Holding) ships freight by railway and water transport and transships them at Russian ports. The holding also renders logistical services, organizes cruise line passenger traffic, and owns shipbuilding assets. The group's railway assets are integrated into the company UCL Rail. Besides ITC, it also includes LLC ITC-Railcar and OJSC Car-Repair Depot Gryazi (joint venture with RZD). UCL Rail owns over 28,000 freight cars, 27,000 of which are gondola railcars. Project record was written over a project marked as hidden -it was a duplicate of project 6009