OREANDA-NEWS. June 18, 2008. The Board of Russian Railways has approved the establishment of the Moscow-Tver Suburban Passenger Company (MT SPC), which will provide suburban passenger services between Moscow and Tver.

A final decision on establishing the company will be taken by the Supervisory Board of Russian Railways. 

The founders of MT SPC are Russian Railways (25% minus 3 shares), as well as the Moscow city authorities and the authorities of Moscow and Tver Regions (25% each plus 1 share).

The business plan for MT SPC provides for the company to provide suburban passenger services between Moscow and Tver under agency contracts during Stage 1. Under this contract, Russian Railways will remain responsible for providing the service, while the function of collecting revenues from the sale of tickets and control and audit work will be transferred to the newly established company.

During Stage 2, MT SPC will assume responsibility for providing suburban passenger services between Moscow and Tver and from 2010 will also implement suburban transport throughout the Tver Region.