On November 20, as part of Transport Week 2019, Russian Railways and RVC signed a memorandum on the preparation of two joint venture funds for investment in industrial and digital projects. The document was signed by Oleg Belozerov, General Director and Chairman of the Board of Russian Railways, and Alexander Povalko, General Director of RVC.
The new funds are aimed at investing in projects of early stages, which have the potential for synergies with the activities of Russian Railways and the railway industry and will help to increase the efficiency of the holding’s business model. The first fund is focused on the development of a wide range of solutions for the transport industry. The planned investment focus is the technology of transport engineering and instrumentation, new materials, robotics, 3D printing, additive technologies, quantum communications, “green technologies”.
The second fund to be focused on investment in projects to digitalize the transportation industry. Priority segments for investment are IT platforms and IT solutions in the field of freight and passenger transportation, Internet of things technologies, big data, business analytics and forecasting, cybersecurity, artificial intelligence, and machine learning technologies.
The funds will begin to operate in 2021. It also provides for the possibility of attracting new industrial and financial partners to the capital of funds.
Russian Railways OJSC is one of the largest railway companies in the world with enormous volumes of freight and passenger transportation, with high financial ratings, qualified specialists in all areas of railway transport, a broad scientific and technical base, design, and construction capacities, and significant international cooperation experience. The holding operates one of the largest transport systems in the world, the operational length of which is 85.5 thousand km. It also provides over 45% of the total cargo turnover (including pipeline transport) and a quarter of the total passenger turnover in the Russian Federation.