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Our company, Pasifik Eurasia Railway Freight Transportation Inc., which is 100% owned by Pasifik Eurasia Logistics Foreign Trade Inc., was established on July 14, 2023, and has obtained the "Freight Train Operator" license with Authorization Certificate No. DB2.8 from the General Directorate of Transportation Services Regulation of the Ministry of Transport and Infrastructure, valid from September 7, 2023, to September 7, 2033.
Thus, our company has become the 3rd private sector railway train operator (RTO) in Turkey under Law No. 6461 on the Liberalization of Turkish Railway Transportation. Additionally, our company holds the title of being the first private railway train operator (RTO) engaged in international transportation in Turkey.
Within the scope of the 2023 Transport and Logistics Master Plan and the 12th Development Plan, objectives such as developing intermodal and multimodal transportation, establishing a safe, integrated, environmentally friendly, and low-cost transportation system, and supporting exports to make Turkey an international hub in transportation and logistics have been outlined.
In line with these goals, the first international freight train loaded with export goods, operated by our company using leased electric locomotives and wagons, departed from Istanbul/Halkalı on October 10, 2024, on the Istanbul/Halkalı-Kapıkule-Bratislava/Slovakia Terminal route. The train consists of 18 truck trailers and 15 wagons loaded with 45' containers, totaling 1,245 tons with a length of 540 meters.
As part of our railway operations towards Europe, starting from October 15, 2024, one train will run daily in both directions on the Istanbul/Halkalı route, with two trains running daily in both directions thereafter.
It is planned that our subsidiary Pasifik Eurasia Railway Freight Transportation Inc.'s international freight trains will operate to and from destinations in Bulgaria, Serbia, Hungary, Austria, Czechia, Slovakia, and Germany.
For our company, which offers railway-focused logistics solutions and transportation services, reaching the strategic goal of becoming an RTO and starting operations marks a significant milestone. This achievement is a reflection of our belief in the future of railway transportation, the correctness of efforts to liberalize the sector, and the substantial societal benefits it will create.
As stated in the Transport and Logistics Master Plan and other announcements from the Ministry, the current domestic freight volume transported by rail is around 38 million tons per year, accounting for a 5% share of the total transported cargo. The goal is to increase this to 146 million tons by 2029 and 306 million tons by 2035, with a 20% share. It is also planned to extend the current 439 km of rail connections that link the national railway network to logistics centers, factories, industrial zones, and ports to 654 km by 2028, thereby shifting more freight from roads to railways and promoting sustainable green logistics and transportation.
While the share of rail transport in total freight traffic exceeds 20% in Europe, it is known that this share is below 2% in Turkey's export transport. These figures highlight the vast potential and long path ahead for railway transportation in Turkey.
As a private sector RTO, we will continue to invest in the railway sector, aiming to increase service quality and efficiency with our own locomotives and wagons, and to achieve significant growth in the sector with a competitive approach.
We wish for the Railway Train Operation activities to be beneficial for our country, our company, our employees, investors, and all stakeholders.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.