Rail Cargo wins bidding for MÁV freight
The consortium of Austria’s Rail Cargo and western Hungarian regional rail company GYSEV were selected as winners of the privatization tender of the shipping division at state rail company MÁV, MÁV Cargo.
The winning bid of Ft 102.5 billion (about $589.9 million) will lead to brief direct negotiations between the future owners and MÁV, to be shortly followed by the contract signing in early 2008, said Economy Minister János Kóka. The Rail Cargo-GYSEV duo beat Slovakia’s Sped-Trans consortium with its runner-up bid of Ft 86 billion, and the Cargo Central Europe consortium with an offer of Ft 57.1 billion in third.
MÁV Cargo, touted as a key logistics asset in the heart of the European Union’s fastest growing region, went on the block earlier this year as part of government attempts to reorganize the inefficient rail system. (Gazdasági Rádió, NG)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.