Businessman Gruia Stoica, owner of the biggest private railfreight carrier on the Romanian market, Grup Feroviar Roman (GFR),a part of the Grampet group, will invest 13 million euros in a87.6% stake in Montenegro's national rail freight carrier, which isin the process of being privatised. "We have been accepted to takeover state-held Montecargo. If our terms are accepted, we will takeover the company," said businessman Gruia Stoica, owner of GFR,which posted a 101 million-euro turnover and a 7.2 million-euro netprofit last year.
Montecargo posted a 5.7 million-euro turnover last year andcarried 844,000 tonnes of freight, according to indecon.de website,which provides information on the company's privatisation. Thecompany operates 713 freight carriages and 17 locomotives. Thiscompares with 850 locomotives and almost 42,000 freight carriagesheld by Romanian freight carrier CFR Marfa. "We will buy Motecargoshares worth 2 million euros, we will cover debts amounting to 6million euros, and make 4-5 million euros in investments."
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