CFR Marfa undergoes restructuring in hope of a quick privatisation

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Postponed in 2009, the privatisation plans for the state-owned rail freight carrier CFR Marfa were put forth again last month, when the Government approved a crash programme aimed at improving the company's financial situation and make possible its sale by the end of the year.

Worried that CFR Marfa will turn into a huge pile of scrap iron if the state continues to manage it, Radu Berceanu, minister of Transports and Infrastructure, wants to sell the company as soon as possible. ”I’d rather have the privatisation at the end of the year. We will start procedures immediately,“ the minister said, adding that the privatisation will be carried out through an international tender and that the buyer would get all the shares. Among potential buyers, Berceanu nominated Austrian and German railway companies. Despite the foreign interest, Romanian authorities don’t have high hopes when it comes to the price. The minister even admitted that the best price could have been obtained in 2007, when the rail freight market’s liberalization was initiated.