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ŽSR projects another huge loss

THE NATIONAL railway company, Železnice slovenskej republiky (ŽSR), projects a 2002 operating loss of Sk3 billion, says ŽSR general director Ladislav Maxa. However, Maxa points out that if the government helps cover the costs of the firm's consolidation, losses could be as low as Sk970 million.

At the beginning of 2002, Železničná spoločnosť (ŽS) was spun off ŽSR to operate transport and commercial activities. ŽSR operates the railway network and related services.

ŽS, according to the agreement between the two firms, should pay ŽSR around Sk8.3 billion this year for use of the railway network. US Steel Košice should pay an additional Sk27 million for railway use.

Preliminary calculations for 2001 put ŽSR nearly Sk4 billion in the red, but losing Sk150 million less than in 2000. The company transported 57.4 million tons of cargo last year.

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