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LDz Concern has worked out the strategy till 2020

Tuesday, 13 May, 2014

“The priority of Latvijas dzelzceļš (LDz) for the next five years will be increasing the amount of cargos, because it is a key pre-condition for further development of the railway,” said LDz Chairman of the Board Uģis Magonis during the presentation of LDz Concern strategy, which took place on 12 January.

On 12 January in the big hall of the Ministry of Transport of the Republic of Latvia LDz Director of Development Māris Riekstiņš together with LDz Management Board presented to LDz managers recently approved and a long awaited development strategy of the company, which contains a vision of the company development until 2020.

“We cannot fully predict the future of the company, but we need a strategy to understand the tasks for development and the way, how to develop further,” pointed M.Riekstiņš.

According to the new strategy a vision of the company is to become a progressive, safe and effective railway company, but a mission of the company is to provide railway infrastructure management and transportation services for national economy enhancement. The key values of LDz Concern are: Competence, Responsibility, Safety, Initiative, and Cooperation.

The key strategic goals of LDz Concern for the next ten years are ensuring railway infrastructure throughput in East – West corridor following the demand and increasing the amount of cargos carried by rail. Other goals and work of structural units and subsidiaries should be orientated towards the realization of these goals. Besides the strategy emphasizes the necessity to define functions and responsibilities precisely in order to avoid duplication of them, as well as necessity to support innovative approach in order to ensure competitiveness among other railways.

U.Magonis added that it is necessary to continue elaboration of the detailed plan. “Latvijas dzelzceļš existed, exists and will exist – we can be sure of that. At present we have to continue elaboration of the technical development strategy, which would contain detailed technological processes,” pointed U.Magonis.

Concern Latvijas dzelzce ļš comprises the holding company SJSC Latvijas dzelzceļš and four subsidiaries – LDz Cargo Ltd., a rail freight carrier;LDz infrastruktūra Ltd., a company providing infrastructure construction and maintenance works; LDz ritošā sastāva serviss Ltd., a company providing rolling stock repairs and maintenance works, and LDz Apsardze Ltd., a security company.

Prepared by LDz Public Relations Division