The contract was awarded through an open outcry auction organized Thursday at the headquarters of the Romanian Commodities Exchange (BRM).
CFR did not disclose the value of the contract.
The lease contract targets railway sections Bucharest South -Titan, Bucharest South – Oltenita and Caciulati – Snagov Plaje. It is valid for four years. Contract awarding criteria considered the highest price.
Transferoviar Grup was set up in a 2003 by businessman Calin Mitica and specializes in freight transport and train car repair. The company entered the passenger railway transport market last year.
In November, CFR awarded three other railway line lease contracts.
Romania’s Government decided in June to lease 1,000 km of public railroad and close another 1,000 km, in an effort to save 109 million lei (EUR25 million) from the railway company budgets, as per a previous agreement with the International Monetary Fund.
The Government has promised the International Monetary Fund to close 20% of the country’s railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance. (EUR1=RON4.2912)