Fenechiu said the Transport Ministry’s proposition setting a 10-day deadline for the payment in full for the majority stake in CFR Marfa amends the draft government decision approving the main conditions of the sale contract.
CFR Marfa’s privatization strategy currently stipulates a negotiable deadline for the payment of the shares taken over, which cannot exceed 60 days from the enforcement of the government decision approving the main conditions of the sale contract.
Romanian private railway company Grup Feroviar Roman (GFR) offered EUR202 million for a 51% stake in CFR Marfa and committed to invest 900 million lei (EUR202 million) in the company and another EUR1.5 million in environmental projects.
GFR said its main priority is to make the state-run company efficient so it will not continue to be burdensome for the economy.
Grup Feroviar Roman is the biggest private railway transport company in Romania and is part of Grampet group, owned by businessman Gruia Stoica.
According to the transport minister, CFR Marfa currently has debts of EUR100 million, which GFR will take over.