“We bring together three railway operators in three countries, Romania, Hungary and Bulgaria, operate four rolling stock plants and currently employ 9,000 people. CFR Marfa has 11,000 employees and we must take care of them (…) Our priority is to turn CFR Marfa into an efficient company so it will cease being called a black hole of the economy,” Sorin Chinde, general manager of GFR, said Friday at the conference “Mediafax Talks about Transport&Logistics”.
Grup Feroviar Roman is the largest private player in the Romanian freight railway transport. It is part of Grampet Group, controlled by businessman Gruia Stoica.
Romanian private railway company Grup Feroviar Roman (GFR) has recently been declared winner of an auction to sell CFR Marfa and will pay EUR202 million for a majority stake in the company.
GFR pledged to invest 900 million lei (EUR202 million) in the company and allot EUR1.5 million for environmental investments.
According to Transport Minister Relu Fenechiu, CFR Marfa’s current debts amount to about EUR100 million, which GFR will take over. A part of the company’s debts has already been converted into shares. (EUR1=RON4.4588)