Lund – Malmö quadruple tracking contract
Prime Minister inaugurates Napoli Afragola station
ÖBB starts Pyhrnstrecke station upgrading
Weekly LCL service widens appeal of China-Europe rail route
Siemens to buy planning software company HaCon
Hupac orders eight multisystem locomotives
Montecargo privatisation cancelled
IONX and Ermewa agree telematics partnership
High-value chemicals travel from China to Europe by rail
DB Regio selected for Rhein-Neckar operating contract
The Council for Privatisation & Capital Projects has cancelled plans to sell stakes in national rail freight operator Montecargo and port operator Luka Bar to Poland’s OT Logistics Group.
The tender commission believed that while sole bidder OT Logistics was a credible investor and the process had been conducted transparently and in accordance with regulations, privatisation would not be in the best economic, social and security interest of the country. In particular, it was felt that the ongoing modernisation of the railway to Serbia and improvements to road links would increase the value of the port of Bar as one of the country’s strategic resources.
OT Logistics said it would seek an explanation of the ‘completely incomprehensible’ decision, which was announced on April 24. According to the terms of the planned agreement, the company was expected to pay €2·5m for a 51% stake in Montecargo and €8·5m for a 30% stake in Luka Bar. It would also commit to investing €17·5m in modernising the two businesses.
‘The decision of the new government of Montenegro is a surprise to us, especially in the context of full transparency of the privatisation process,’ said CEO Zbigniew Nowik on April 25. ‘Negotiations had been successfully completed in March and we had not received any signals as to a possibility of cancelling the tender. We are currently investigating the matter and will inform the market about any new developments upon receiving more comprehensive information from our partners in Montenegro.’
This article first appeared on www.railwaygazette.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2018 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.