The Romanian Rail Freight Company will be privatized

Newsroom 27/09/2011 | 17:16

The Supreme Council of National Defense (CSAT), the Romanian authority that reunites the Romanian president, prime-minister, and the heads of economy, finance, security and defense portfolios, decided yesterday that the National Rail Freight Company (CFR Marfa) will be prepared for privatization. The Ministry of Transpiration and Infrastructure will seek to sell a 50 percent stake in the freight operator.

Romania will be able to use the infrastructure in a state of emergency or for obligations that reside from the agreements with NATO and the U.S, mainly in the military area.

CFR Marfa is fully owned by the Romanian state, through the Ministry of Transportation and Infrastructure, controlling 76 percent of the volume of freight transported in Romania. At the end of the first trimester, the company had debts amounting to RON 221 million. In July, the national freight operator cut 3.000 jobs in an effort to contain costs.