Loading ...Minister of Transportation Ludovic Orban said on Tuesday that the privatization of national rail freight carrier CFR Marfa would be Romania’s major privatization deal in 2009.
“CFR Marfa is a profitable company and runs all the chances to become Romania’s privatization deal of 2009,” said Orban on the occasion of the Railroad Days celebration.
“CFR Marfa is a profitable company and runs all the chances to become Romania’s privatization deal of 2009,” said Orban on the occasion of the Railroad Days celebration.
The Minister said that the contract would be signed in 2009, and that the Transportation Ministry is still waiting for the European Commission’s reply regarding the method picked by the Romanian state for putting the company into private hands; the European Commission’s reply is due until the end of the year.
The Romanian state proposed the sale of the entire stake of the national rail freight company by tender with pre-qualification following a survey conducted by consultant Deloitte.
“There are two variants, either privatization by direct negotiation, or by international tender with pre-qualification, and the European executive body is to deliver an opinion on that,” CFR Marfa director Liviu Bobar said recently.
“There are two variants, either privatization by direct negotiation, or by international tender with pre-qualification, and the European executive body is to deliver an opinion on that,” CFR Marfa director Liviu Bobar said recently.
Specifically, the Competition Council turned to the Commission in the problem of the clarifications it was asked to supply and the European authorities are expected to deliver an answer.
The Romanian state expects to collect at least one billion euros from the privatization of CFR Marfa, and consultant Deloitte proposed the open tender with pre-qualification requirements in order to attract a strategic investor.
The Romanian state expects to collect at least one billion euros from the privatization of CFR Marfa, and consultant Deloitte proposed the open tender with pre-qualification requirements in order to attract a strategic investor.
CFR Marfa’s portfolio includes 8 sales commercial centers, 23 production commercial centers, 219 management stations that service another 713 stations with commercial activity. The company also owns 17 handling depots and 42 carriage-overhaul depots; CFR Marfa currently operates 987 engines and 50,980 carriages.
The last 2 ships of Romania’s fleet, Mangalia and Eforie, with a capacity of 13,000 TDW, are also in the portfolio of CFR Marfa.
In 2007, the company posted annual revenues of 530 million euros and a profit of 12 million euros.
The last 2 ships of Romania’s fleet, Mangalia and Eforie, with a capacity of 13,000 TDW, are also in the portfolio of CFR Marfa.
In 2007, the company posted annual revenues of 530 million euros and a profit of 12 million euros.
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