The Lithuanian government decided that state-owned transport and transport related companies shall be grouped together. The transport holding company, founded by the Ministry of Transport and Communications, will comprise Lithuanian Railways, Problematika, Smiltynes perkela, the Lithuanian Radio and Television Center, Detonas and the Lithuanian Post. However, in future, once the transport companies controlled by the ministry are reorganized into public companies, they will also be added to the new group. This change has as a main aim to provide reliable transportation and provide customers with the best solutions for transport and logistics.
Rimantas Sinkevičius, Minister of Transport and Communications of Lithuania, commented on the holding decision : “This re-organization will be beneficial to the state in economic terms due to facilitation of efforts to improve operating efficiency of the companies falling within the remit of the ministry. In addition, it will help achieve better return on invested capital. The creation of a group of transport companies, which will be fully controlled by a state-owned public company, will help reduce general and administrative costs and remove function overlaps.”
Source: Baltic Transport Journal