|  2012-12-12

CFR reduces debts and makes profit

Romanian Railway Company CFR registered profit worth about 12.9 million euros (58.463 million lei) during the first ten months of the year and reduced total debts by 65.54 percent compared to the same period in 2011, when they amounted to round 1.234 billion euros, namely 5.553 billion lei, CFR release informs, on Friday. According to the source, debts have been possible to be curbed through the enactment of economic recovery measures.

CFR Romanian State Railways

Till Oct 2012, CFR invested about 1.1962 billion lei in works part in EU-funded programmes, like upgrading railway stations, rehabilitation of bridges, footbridges and tunnels, the improvement of the railway traffic safety, rehabilitation of the railway infrastructure, and rehabilitation objectives, modernization and repairs of the public railway infrastructure.

'CFR's economic development in a rather short time is the result of the intense efforts made by the Company's management team that took the steps the Company's financial recovery required', said CFR general manager Cristian Ghibu.

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