Government begins privatization of Cargo Slovakia

SLOVAKIA'S government launched the privatization railway cargo business Cargo Slovakia, which operates freight transport, through press advertisements.

The advertisement calls on investors to show their preliminary interest in the company as a whole. The expression of interest should include basic information on the investor's entrepreneurial activities, including activities relating to railway transport. This must be submitted to the company CA IB Financial Advisors, which is advising the government on the privatization, the TASR news agency reported.

Rules and information on procedure will be given to interested parties after they sign a confidentiality agreement. Then, the government will ask for their preliminary bids. The bidding period ends July 29.

On January 1, 2005 state-owned Železničná spoločnosť (Railway Company) was divided into the companies Železničná spoločnosť Slovakia (a railway company), which handles passenger transport, and Cargo Slovakia, which handles freight transport.

Cargo Slovakia's basic capital is Sk11.5 billion (€282 million). In 2004 it transported nearly 50 million tonnes of goods. Its rolling stock consists of more than 800 electric and diesel engines and 16,000 cargo wagons.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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