"We have not had a long-term contract until now, so we hope that it will help ensure the stability of freight flows and mutually beneficial cooperation," Lietuvos Gelezinkeliai CEO Mantas Bartuska said in a press release.
The railway company transports over 2.5 million tons of Lifosa products annually.
Lifosa's annual revenue fell by 11% last year compared with 2015 to 367.4 million euros. Its profit plunged by a factor of ten to 6.137 million euros.
The fertilizer manufacturer, which is based in Kedainiai, in central Lithuania, is controlled by Swiss-registered, Russian-owed Eurochem Group.