The cost paid last year exceeds the amount of RON123.21 million approved by the Government in the budget revision last November by 18.4%.
Metrorex and Alstom renegotiated last year the maintenance contract, reducing costs by 30% in 2011 and by 34% for the remainder of the contracted period, until 2018. The contract was signed in 2003 for 15 years.
In 2010, Metrorex paid Alstom RON189.93 million, therefore the cost of maintenance dropped by 23% in 2011, to RON146 million, according to the draft budget for 2012, which also provides preliminary estimates on the company’s financial performance last year.
This year, the subway operator expects to spend RON157 million on maintenance, an amount which will rise by 9.7% to RON172.34 million next year, then decrease by 3.5% to RON166.16 million in 2014.
The draft budget also says Metrorex’s expenses were equal to revenue in 2011, at RON583.28 million, 0.5% higher than as approved in the revision; this year, expenses and revenue are seen at RON662.66 million, 13.6% higher.
Revenue would remain equal to expenses in the next two years: RON694.73 million in 2013 and RON709.39 million in 2014.
According to data published by the Finance Ministry, Metrorex ended 2010 with a loss of RON50.58 million, after a loss of RON121.81 million the previous year.
The draft budget says Metrorex’s debts amounted to RON156.7 million at the end of 2011, down 29.7% on the year. The debts will be further reduced by 36.9%, to RON98.8 million, this year. (EUR1=RON4.334)