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MÁV Cargo nets Dunaferr contract

MÁV Cargo Zrt, the recently spun-off freight division of state-run railway company MÁV Zrt, has signed a three-plus-two-year haulage contract with steel maker Dunaferr Zrt, business daily Világgazdaság reported.

Under the deal, MÁV Cargo has agreed to ship 4.5 million tons of goods for Dunaferr annually in the next three years, which may optionally be extended by another two.
MÁV Cargo expects to make big investments in 2006 to modernize its rolling stock, develop its IT system and expand its infrastructure, CEO Tamás Kozák said. Currently, MÁV Cargo rents its 200-engine fleet from MÁV, which also supplies the engineers, but it will soon call a public purchase offer for a new rental contract. In the mid-term, it could decide to buy its own engines, Kozák said.