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NEW TRENDS IN ROMANIAN RAILWAYS REFORM

NEW TRENDS IN ROMANIAN RAILWAYS REFORM. - Reform stopped after 1998 ?. - Necessary time for consolidation. New challenges and more difficult tasks to be achieved. NEW TRENDS IN ROMANIAN RAILWAYS REFORM. - Staff reduction. - Outsourcing. - Cost control system. - Complex IT system.

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NEW TRENDS IN ROMANIAN RAILWAYS REFORM

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  1. NEW TRENDS IN ROMANIAN RAILWAYS REFORM - Reform stopped after 1998 ? - Necessary time for consolidation • New challenges and more difficult • tasks to be achieved

  2. NEW TRENDS IN ROMANIAN RAILWAYS REFORM - Staff reduction - Outsourcing - Cost control system - Complex IT system - Privatization of CFR-Marfa

  3. Staff reduction in 2001 40 % Management staff reduction

  4. Staff reduction in 2001 40 % Management staff reduction

  5. Staff reduction in 2002

  6. Staff reduction in 2002

  7. Personnel Evolution • 97.000 EMPLOYEES LESS

  8. Outsourcing & Privatization

  9. Railways Branches National Railway Company Rail Welding Company Signaling Equipment (5 branches) 5 Production Companies for Signaling 5 Production Companies for Signaling 5 Production Companies for Signaling 5 Production Companies for Signaling Overhaul of Heavy Track Machines (2 branches) 2 Repairs Companies for Heavy Track Machines Printing Activities Engineering & Design TO BE PRIVATIZED

  10. Railways Branches Railcars Washing Companies (2 branches) 2 Railcars Washing Companies Freight Company Transshipment Railcars Container Distribution by tracks Maintenance & Overhaul of Railcars Maintenance & Overhaul Locomotives TO BE PRIVATIZED

  11. Railways Branches Passengers Company Maintenance & Overhaul of Coaches (4 branches) 4 Maintenance & Overhaul Coaches Company 4 Maintenance & Overhaul Coaches Company 4 Maintenance & Overhaul Coaches Company Sleeping & Restaurant Coaches Operations Tickets Distribution Maintenance & Overhaul of Locomotives TO BE PRIVATIZED

  12. Reform of the financial & accounting system • 5.000.000 Euro project for the restructuring of cost control, financial and accounting system • Deadline: June 2003 • Objectives • New structure of Profit and Cost Centers • Definition of the cost of each activity • New business plans • Improved access charge formula

  13. IRIS Integrated Railway Information System • Railway Infrastructure Management • Rolling Stock Management • Train Circulation Planning and Monitoring • Freight Operations & Commercial Management $ 35 MillionBudget

  14. PRIVATIZATION OF FREIGHT RAILWAYS COMPANY (1) • How to privatize the Romanian Railroad (maximize purchase price, minimize impact on employment, retain regulatory control, preserve local ownership interest, etc.) • Continuation of reform actions (access fee, staff dimension, fleet structure, cost control) • Information on the market about the offer for privatization • Sale process (procedure, timetable, performance guaranties)

  15. PRIVATIZATION OF FREIGHT RAILWAYS COMPANY (2) • Due diligence (data room, commercial inf., financial inf., assets, relevant contracts) • Final bid (price, commitment to execute the final contract, bid bond, minimum bid ?, open bid ?) • Selection & closing • Post-closing (transition duties, labor, government responsibilities, renegotiation of the contract ?) Presumed term for privatization : 2004

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