CFR Marfă

CFR Marfă is the state-owned freight railway business of Romania.^[1]

CFR Marfă logo

CFR Marfă tank car

Formerly the freight division of Căile Ferate Române (CFR), it was separated in 1998 to become a semi-independent business.

In April 2013, under pressure from the IMF to reform the state sector,^[2] the Romanian government offered to sell a 51% stake in CFR Marfă^[3] In May 2013, three bids were received; from OmniTRAX, SC Grup Feroviar Român, and a partnership between Transferoviar Grup and Donau-Finanz.^[4] The government rejected all three bids.^[5] In September 2013, the 51% stake in CFR Marfă was sold to Grup Feroviar Român for €202 million, although complete payment would be deferred until the deal is approved by competition authorities.^[6] The deal was never consummated and the company remains completely state owned.

CFR Marfă is making heavy losses. In 2013, it expects to lose €47 million; it lost €20 million in 2012 on earnings of €288.8 million. It has not posted a profit since 2007.^[7] As part of the privatisation, the Romanian government has allocated CFR Marfă 606 million lei (€137 million) of rail infrastructure debts.^[8] In 2023, the company earned €157 million, while debts totaled €910 million. ^[9]

In light of CFR Marfă’s dire financial position, the Romanian government has announced plans to liquidate the company and replace it with a new entity, Carpatica Feroviar. The new entity should take over CFR Marfă’s role in the Romanian freight rail sector in March 2025. ^[10]

See also

• Rolling stock of the Romanian Railways
• Căile Ferate Române
• Rail transport in Romania