Romanian Transp Min To Lower Rail Co’s Land Prices For New Auction

Speaking on the sidelines of a real estate seminar organized by Romanian financial daily “Ziarul Financiar,” Orban said potential investors recommended that land prices be lowered, as they are currently too high. 

 

“As we have to recover some debts from CFR, we seek to sell several lands on the Romanian Commodities Exchange. Those who wanted to buy task books told us our prices are too high and recommended taht we lower them. We will, but I cannot say by what amount, as there are legal provisions concerning minimum levels,” Orban said.

 

He said the current prices were set following evaluations.

 

“Following several evaluations, we were forced to put up the lands at auction at prices over the market practice. We will lower the prices and sell the lands at their market value,” Orban mentioned.

 

He said CFR is the biggest “landowner in Romania,” with many properties in all big cities nationwide.

 

CFR attempted to sell several lands located in Bucharest on the Bucharest Commodities Exchange in December last year, but the auction was unsuccessful and it was rescheduled.

 

The railway company plans to use the money from selling the lands to pay its remaining debts toward electric energy suppliers.