The Romanian Minister of Transport and Infrastructure, Radu Berceanu, has elaborated CFR Marfă’s privatisation strategy. The document stipulates the ministry’s main privatisation objectives which include the optimisation of the price to be obtained from selling the stakes owned by this state , increase the budgetary incomes necessary to the additional financing of priority areas where problems appear and accelerate the privatisation process to observe the deadline established with the IMF and the European Commission.
The Romanian Ministry of transport will sell the state-owned company through call tender. The tender participation guarantee will represent 20% of the nominal value of the stakes to be sold. The tender participation fee for each investor/group of investors who hands in the participation documents is 5% of the nominal value of the stakes to be sold. During the privatisation process, the ministry will select a consultant. To implement the privatisation strategy, the Ministry of Transport will create a privatisation commission formed of 5 representatives from the Ministry of Transport, one from the Ministry of National Defence and one from the Ministry of Public Finances.CFR Marfă has a rolling stock fleet of over 42,000 cars and over 900 locomotives. The company has a 49.2% market share compared to Romanian rail private operators evaluated in carried tonnes/km and 58% in tonnes/km loaded freight. In the first quarter of 2010, CFR Marfă carried 53% of the coal shipped on rails. The company’s revenues plummeted from EUR 16.2 Million in 2006 to EUR 1.5 Million in 2009.
Source: MTI (Romanian Ministry of Transport and Infrastructure)
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