The stipulation was also included in the 2013 – 2016 governing program.
The Romanian Government and the International Monetary Fund agreed to subject CFR Marfa to an aggressive restructuring process, cutting staff costs, selling obsolete train cars for scrap metal and halting deliveries to clients that have amassed debts to the company.
According to the letter of intent with the IMF, CFR Marfa privatization should be completed by the end of May 2015.
CFR Marfa, controlled by the Transport Ministry, is the largest freight carrier in Romania.
The sale of 51% in CFR Marfa to private railway operator Grup Feroviar Roman failed as procedures were not completed by the October 14, 2013 deadline.