Mitsui Rail Capital Europe B.V (MRCE), a Mitsui & Co., Ltd. wholly owned subsidiary and Europe's market leader in full service locomotive leasing, has agreed to establish a 50:50 joint venture with German locomotive manufacturer Siemens for the maintenance of locomotives in the Netherlands. The company will be named Locomotive Workshop Rotterdam (LWR).
MRCE has approximately 300 cross border locomotives, which mainly run along the North-South Corridor (Netherlands/Belgium - Germany - Switzerland - Italy, Germany - Austria - Italy), and operates a full service leasing business, utilizing around 40 third party contracted maintenance workshops.
With this agreement, MRCE will partner with Siemens, a major supplier of locomotives, to construct and operate a maintenance workshop at Rotterdam Port, the largest port in Europe located at the end of the North-South Corridor, to effectively and flexibly respond to European rail transportation operators and further strengthen locomotive maintenance service network.
After acquiring a prior approval from Europe's antitrust authorities, the companies are aiming to establish LWR in the first half of 2018, with services launching in summer 2019. Through this project, as well as the full-service leasing business built over more than a decade, MRCE will continue to contribute to the development of European rail transportation as a partner for the customers.