T-Industriya Is Allowed to Buy 25% More in BetElTrans

Russian Federal Antimonopoly Service allowed T-Industriya to acquire additional 25% in BetElTrans (BET) from OAO RZD, the RIA Novosti reports. The Federal Service imposed limitations on the deal; however, details of the limitations are not disclosed.

T-Industriya bought 50% in BET in 2014. Later, in 2016, the Russian Government allowed OAO RZD to sell additional 25% in BET to T-Industriya.

BET has nine sleeper manufacturing facilities. The company manufactures over 50% of all Russian armored concrete sleepers and over 50% of reinforced concrete beams for switch point machines.

T-Industriya is co-owned by a Dutch Spoor Struktuur Investiring (70%) and Russian OOO Aqua Solid. The latter company is owned (99%) by Igor Chaika, Russian Prosecutor General’s son.