The Romanian government has approved a €300 million allocation to Carpatica Feroviar Romania to support the company’s launch and acquisition of assets from CFR Marfă, Railmarket’s Romanian media partner, Club Feroviar, reports.
Asset transfer from CFR Marfă to Carpatica Feroviar
Carpatica Feroviar, a newly formed state-owned rail freight operator, will acquire locomotives, wagons, and repair facilities directly from CFR Marfă. The transaction, valued at approximately €305 million, includes 200 locomotives, 6,500 wagons, and six maintenance depots. These assets were appraised by KPMG Advisory, which applied a 15% discount to the total valuation as part of a block sale agreement.
The payment process involves funds being transferred from the Ministry of Finance to the Privatization Fund, then onward to CFR Marfă’s account through ANAF (Romania’s tax authority). Proceeds will be used to address CFR Marfă’s outstanding state aid obligations, with any remaining funds allocated to other fiscal debts. Once payments are confirmed, ownership will transfer to Carpatica Feroviar under the oversight of the Ministry of Transport.
Operational funding and workforce planning
The government has allocated an additional 6.6 million EUR to support Carpatica Feroviar’s initial operations. This funding will cover staff salaries, necessary certifications, and other startup costs while the company prepares to launch freight services. Hiring will be based on operational requirements, with no automatic transfer of employees from CFR Marfă. Instead, Carpatica Feroviar will evaluate staffing needs based on the volume of contracts and operational scope.
Transition and restructuring of Romania’s freight sector
CFR Marfă is expected to cease operations and enter liquidation once Carpatica Feroviar is fully operational. This transition aligns with the government’s broader efforts to address financial and operational inefficiencies in the freight sector. By transferring assets and responsibilities to the newly established operator, the Ministry of Transport aims to reorganize rail freight operations and stabilize the sector.
Further developments, including updates on Carpatica Feroviar’s progress towards full certification and operational launch, are anticipated in 2025 as the restructuring process continues.
