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Romanian CFR’s Debts To Pwr Suppliers Won’t Be Written Off – Econ Min Off

Three Romanian ministers discussed Wednesday about state-owned railway company CFR’s debts towards power suppliers, and, even though no final decision was reached during the talks, the possibility write off the debts was excluded.
Romanian CFR’s Debts To Pwr Suppliers Won't Be Written Off - Econ Min Off
25 iun. 2009, 12:50, English

The discussions were carried between the Transport Minister Radu Berceanu, the Economy Minister Adriean Videanu, and the Finance Minister Gheorghe Pogea.

Writing off debts is not one of the envisaged solutions, and the ministers are looking for solutions with positive effects on railway traffic safety and the power sector, Economy Ministry secretary of state Tudor Serban said Thursday

End-April, Berceanu said the Romanian railway companies risk foreclosure over debts to power suppliers, who want to recover their debts totaling 1.2 billion lei (EUR1=RON4.2284), and are in danger of losing railway stations or trains.

The agreement sealed last year with the power suppliers for a rescheduling of debt payments as been annulled because the railway companies paid only a single installment so far, he added.