{"id":2207,"date":"2024-10-22T05:59:48","date_gmt":"2024-10-22T05:59:48","guid":{"rendered":"https:\/\/ofero.news\/?p=2207"},"modified":"2024-10-22T05:59:48","modified_gmt":"2024-10-22T05:59:48","slug":"romania-confirms-plans-to-replace-ailing-state-freight-railway-company-with-new-one","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=2207","title":{"rendered":"Romania confirms plans to replace ailing state freight railway company with new one"},"content":{"rendered":"<p>Romania\u2019s state-owned freight railway company, CFR Marf\u0103, is set to be liquidated following the completion of its pre-insolvency arrangement next March, according to <a href=\"https:\/\/www.zf.ro\/eveniment\/prabusirea-unui-colos-stat-cfr-marfa-afaceri-778-mil-lei-3-200-22520102\" target=\"_blank\" rel=\"noopener\">Ziarul Financiar<\/a>, which cites officials from the Ministry of Transport.\u00a0<\/p>\n<p>CFR Marf\u0103, which generated revenues of RON 778 mln (EUR 157 mln) in 2023 but is burdened by debts amounting to RON 4.5 bln (EUR 910 mln), will be replaced by a newly established entity, Carpatica Feroviar.<\/p>\n<p>The Romanian government justified the establishment of Carpatica Feroviar as needed to deliver strategic services under crisis situations \u2013 but will also have the option to provide commercial services on the free market.<\/p>\n<p>Ionu\u021b Cristian S\u0103voiu, Secretary of State in the Ministry of Transport, confirmed that CFR Marf\u0103\u2019s pre-insolvency proceedings would conclude in 2024, allowing sufficient time to operationalise Carpatica Feroviar, which will take over CFR Marf\u0103\u2019s market role.\u00a0<\/p>\n<p>\u201cThe preventive arrangement will end next year after the period necessary to operationalise the company that will continue serving the market and replace CFR Marf\u0103, which will be liquidated in the end,\u201d S\u0103voiu said.<\/p>\n<p>The government recently approved the formation of Carpatica Feroviar. Its capitalisation, as well as the procurement of rolling stock required to compete in the market, will be aligned with the business plan and the private investor test agreed upon with the European Commission\u2019s DG Competition, S\u0103voiu assured. He also clarified that CFR Marf\u0103 and Carpatica Feroviar will not operate in parallel, with the latter fully replacing CFR Marf\u0103 once it becomes functional.<\/p>\n<p>This restructuring marks a significant step in addressing the longstanding financial difficulties of CFR Marf\u0103, as Romania seeks to ensure the continuity of its freight railway services under more sustainable conditions. Private operators, however, objected to possible breaches of the competition regulations.<\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>\n<p><em>(Photo source: Facebook\/CFR Marfa)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Romania\u2019s state-owned freight railway company, CFR Marf\u0103, is set to be liquidated following the completion of its pre-insolvency arrangement next March, according to Ziarul Financiar, which cites officials from the Ministry of Transport.\u00a0 CFR Marf\u0103, which generated revenues of RON 778 mln (EUR 157 mln) in 2023 but is burdened by debts amounting to RON [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2207","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2207"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2207\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}