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Romania’s CFR To Sell Lands In Cap City For At Least EUR31M

Romania’s state-owned railway company CFR will auction Tuesday four lands of some two hectares total surface in the capital city Bucharest, for at least EUR31 million, the Ministry of Transportations said.
Romania's CFR To Sell Lands In Cap City For At Least EUR31M
26 mai 2008, 15:02, English

The lands will be auctioned at the Romanian Commodities Exchange for an opening price of EUR1,606 per one square meter of land, VAT included.

The deadline for submitting the offers is May 27, between 9 a.m. and 12 p.m. (local times) and the auction is scheduled for the same day.

CFR said last September that it will organize a bid to sell seven lands of 12.7 hectares total surface, to collect the funds necessary to pay its debts worth 600 million lei (EUR1=RON3.6698) to the power suppliers.

Last November, CFR increased its share capital to RON479 million from RON144 million, by including in its capital the value of some lands of 39 hectares surface.

The Bucharest-based railway company is one of the 34 companies exempted by Government at end-2006 from paying the historical budgetary debts.