OREANDA-NEWS. May 20, 2010. The International Universal Exhibition “White City Ashgabat” has opened at the Exhibition Centre in Ashgabat today. The large-scale exposition arranged on the area of 2,000 square metres showcases the accomplishments and achievements of Turkmen construction industry in the epoch of new Revival and great changes. The exhibition is organized by the Ashgabat Khyakimlik and the Chamber of Commerce and Industry of Turkmenistan.

In the past few years the White City Ashgabat exhibition provides the broadest and most prestigious platform for exchanging experiences among construction specialists. The exposition spotlights the large-scale changes taking place in the image of the rapidly developing capital, the prospects and Turkmenistan’s potential in the urban development sector that is a priority aspect of the state policy as well as reflects the realities on the construction market. The participants including the world’s leading companies present a broad range of equipment, advanced technologies, building projects, construction materials, etc.

The projects presented at this specialized exhibition in the previous years have taken real shape in the image of Ashgabat, one of the most beautiful and comfortable cities of the world. Most of the projects of apartment houses and social administrative buildings, housing estates and draft designs of urban environment will be implemented in the near future.

The exhibition is not limited to the spheres of urban development and neighbourhood improvement; it covers the whole spectrum of activity of the city ranging from modernization of urban infrastructure to development of the spheres of culture, tourism and sports.

The private sector of Turkmen economy is widely represented at the exhibition. Turkmen entrepreneurs who received the substantial state support more actively contribute to implementing large-scale construction projects. The private Turkmen companies act more often as contractors for the construction of apartment houses, sports complexes and shopping centres throughout the country.

The companies from Russia, Turkey, Denmark, Italy, Iran, Serbia and other countries of the world participating in the exposition present their proposals and potential to establish close mutually beneficial relations. The favourable business climate and stable economic growth attract potential partners to Turkmenistan.

The International Exhibition “White City Ashgabat” will be held three days.
OREANDA-NEWS. May 14, 2010. In 2010, TransContainer plans to spend at least RUR 2.3 billion to purchase rolling stock, said Petr Baskakov, the company CEO.

"The company’s Investment Program 2010 will be finalised soon, on the basis of the 1st quarter results. We can already say definitely that TransContainer will continue to purchase rolling stock. Currently, we have 24,700 wagons. This year, we are planning to purchase at least 1,300 rolling stock items," he said.

The Head of the company said that he was talking mainly about long wheelbase (80-foot) flat railcars, “which must compensate the deteriorated rolling stock and optimize its structure."

Mr Baskakov explained that the amount will depend on prices and the container transport market recovery, and that tenders will be organized in order to enable purchases by the proper price/quality criteria.

He also emphasised that in 2010 the company plans to finance the upgrading and development of fixed assets entirely at its own expense, and that at the period from 2010 to 2012, the company can spend up to RUR 8.3 billion to buy wagons, depending on the market. Also, the operator is planning to spend about RUR 6,000 to develop its terminal network.

Thus, the total investment plan for the period from 2010 to 2012 is expected to be RUR 18.9 billion. "The amount may be adjusted, depending on the actual cargo flows and the general economic situation," explained Mr Baskakov and reminded that in 2009 the TransContainer capital investment amounted to about RUR 3 billion, and that the funds were allocated mainly to upgrade rolling stock and key terminals.

In February, Petr Baskakov told journalists that TransContainer may slightly increase the investment program in 2010, compared with 2009. The company spent RUR 2.1 billion last year to buy 1,000 flat wagons, he noted. Also, a source in TransContainer reported that in 2010 the company expected growth in traffic by 7% -10%.

TransContainer operates heavy containers and flat wagons for their transportation. RZD owns 85% stake in the company; 9.25% shares belongs to the European Bank for Reconstruction and Development; the investment fund Moore Capital Management LLC and GLG Emerging Markets Fund own 2.5% each; and Troika Dialog Investments Ltd has 0.75%.

It was reported that in April, RZD Board of Directors approved the IPO of 35% in Transcontainer by the end of 2010, “depending on the market conditions".