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Croatian state-owned railway companies to continue the restructuring process in 2015

The restructuring of state-owned railway freight operator HZ Cargo will continue in 2015, when a new attempt to privatise  the company may be considered, a document posted on the website of Croatia’s state asset management office, DUUDI.

HZ Cargo is expected to record a gross loss of 16.7 million kuna (EUR 2.2 million) next year on revenues of 823.8 million kuna. The company, which is expected to end this year in the red as well, should invest 112.2 million kuna in 2015.

The government’s plans for state-owned railway infrastructure operator HZ Infrastruktura include the privatization of its units Pruzne Gradjevine and Croatia Express in 2015 as part of a restructuring push.

The plans for railway passenger carrier HZ Putnicki Prijevoz include a capital hike of 400 million kuna next year, the implementation of a redundancy program, and the sale of its units Tersus and Zeljeznicka Tiskara.

Source http://wire.seenews.com

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