Privatisations in the transport sector, under doubt for 2012

In a document made during the negotiations with the International Monetary Fund, the Ministry of Public Finance (MFP) writes that the Transport Ministry will conduct no privatisation this year, although the stand-by accord stipulates the sale of CFR Marfa and of 20 pc of Tarom, Mediafax reports. “The only operation of privatisation expected to be achieved by the Ministry of Transport and Infrastructure, which will bring incomes from the sale of shares, refers to the sale of the 20 pc stake in TAROM, and even this is susceptible of not being achieved because of the lack of investors’ interest in the context of the present economic crisis, although efforts are made to attract portfolio and retail investors on the capital market,” reads the document.
Yet, the Ministry of Transport assumes the privatisation of CFR Marfa until December this year, even in the worst-case scenario, the institution announces in a press release issued Wednesday, af­ter the meeting between Minister Ovidiu Silaghi and the joint IMF-EC-WB mission. Talks focused on the privatisation of CFR Marfa and the sale of a minority stake in Tarom. “With regard to CFR Marfa, talks focused on the phases of the privatisation process, in view of obtaining the best price in the market,” mentions the communiqué. Additionally, the two sides took into consideration ex­panding the private management from the two companies initially targeted by this measure (CFR SA and CFR Calatori) to eight more companies, with a cumulated turnover of EUR 7.3 M.

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