CFR Calatori: 73% higher revenues in 2006

This year, CFR Calatori (CFR – The National Company for Railway Transportation) will invest 174 million RON (around 50 million euros) in acquiring coaches and in modernising its locomotives, according to the Official Gazette. In 2006, the company saw revenues 73% higher than in 2005. The company intends to acquire 189 coaches for approximately 34 million euros (119.3 million RON), in order to increase the coach fleet and replace old coaches. CFR Calatori will also invest over 10 million euros (36 million RON) in the modernisation of locomotives and another 5 million euros (17.7 million RON) in electric trains. According to the Official Gazette, these investments will be funded by the state budget. CFR Calatori will operate a maximum of 1,678 trains, with more than 80% running as slow trains. There will be 44 inter-city trains, 170 high-speed trains and 69 express trains, as well as 14 seasonal trains. By the time this issue was ready for print, company representatives had not provided further information on investments for 2007. Last year, CRF Calatori turned a profit, after seeing losses of 85 million euros (309 million RON) in 2005.