Carpatica Feroviar, which will be in operation as of 2025 according to plans, represents a fresh start for railway goods transport in Romania, because a company with a debt over 4 billion lei, as CFR Marfa, cannot develop, said Ionut Cristian Savoiu, secretary of state in the Ministry of Transports and Infrastructure, on Thursday. “The new company starts with a full state capital. We had talks on two variants with the Commission. One with the participation of strategic investors or stock exchange listings, which means 25% of company capital. Obviously listing requires preparation which means about two years,” said the secretary of state. Carpatica Feroviar will have the same kind of business as CFR Marfa had, but it will not be able to take over the active stock automatically, but will be purchased through legal procedures. The setup and accreditation period of the new company is 6 months after the publication of the Government Decision in the Official Monitor. “Our optimistic scenario shows that in 2025 we might have Carpatica Feroviar functional after being set up in 2024,”he pointed out. After the setting up of Carpatica Feroviar, CFR Marfa must liquidate its patrimony, which has been blocked by ANAF, and must pay the debt it owns to CFR SA for the state aid. The secretary of state added that 3,300 employees from CFR Marfa would be taken over by Carpatica Feroviar. According to the Substatiation Note accompanying the draft Government Decision, the company will have to ensure strategic transports of the Romanian state, accounting for the risk of refusal from private transport companies to carry out certain railroad transports or even their impossibility of taking them over in crisis situations. The new company will carry out activities of strategic interest – taking into account Romania's international partnerships and the need to cover transports of goods in situations of crisis and commercial interest- as it is a company with state capital, se up from its own sources, which will transport goods, thus completing demands of the railway transport market.
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
The National Network of Museums in Romania (RNMR) said it would not coordinate this year's edition of the Night of Museums, the yearly event that sees museums across the country stay open after hours. The organization said the decision was grounded in the "dramatic diminishing of the yearly financial resources allotted to most museums in […]
Romanian development minister Cseke Attila recently announced that the ministry he leads will be reorganized by cutting more than 500 positions, including managerial ones, and two of its subordinate institutions. The cuts are part of a wider trend among state institutions seeking to lower their operating costs. "Through this measure, we are reducing staff by […]
Romanian PM Marcel Ciolacu has revealed that he dispatched a special envoy to Mar-a-Lago, Florida, for informal discussions with representatives of the Trump-aligned US political camp, aiming to adjust Romania’s diplomatic approach amid shifting political dynamics. The initiative, reported by HotNews and
Romania's state-owned energy producer Hidroelectrica will commission the long-delayed Răstolița hydropower plant in Mureș County by the end of 2025, following government approval for the deforestation of over 30 hectares required to finalize the project,
The Romanian Government, through the Ministry of Finance, is preparing to access a new development loan from the International Bank for Reconstruction and Development, part of WB Group, in the context of an increasingly fragile budget and the cancellation of some sources of financing from European funds, according to
