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Weekly Lists
August 3, 2018 www.intellinews.com I Page 23
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Infrastructure
Moldova’s government to tackle growing problems of railway company CFM
Russian transportation major Summa reportedly mulls selling Nahodka port
The government of Moldova on July 31 put the public railway com- pany Calea Ferata din Moldova (CFM) under direct supervision of the state assets agency (APP) in order to streamline the company’s operations. Its employees have now received their wages for the past three months.
The move comes after the government approved a bill on CFM’s restructuring last October, envisaging its division into three sepa- rate companies — one of the nine options suggested by the govern- ment’s consultant Egis, which was hired by the executive to explore options for the troubled company.
Prime Minister Pavel Filip hinted on July 31 that beside bad manage- ment, frauds are the cause of the losses incurred by the company.
Russian transportation major Summa Group is understood to be mulling the sale of the Open Port of Nahodka to companies owned by businessman Dmitri Bosov for RUB1.45bn ($23mn), Vedomosti daily said on July 26 citing unnamed sources close to
the negotiations.
Summa Group is a large investor in transportation assets that include the NSCP, Fesco ports and Transcontainer, as well as construction, oil and gas, agriculture, and telecom assets.
Since March the head of Summa, Kremlin-connected oligarch Ziya- vudin Magomedov, and his brother and ex-senator of North Cau- casus Republic of Dagestan Magomed Magomedov have been in jail, disturbing the operations of some assets and prompting talk of sales or re-distribution of large and lucrative transportation assets.
The Montenegrin government has adopted a plan for the revitalisation of the power distribution network, worth €81.6mn.
The aim is to enable stable and safe provision of power supplies.
"Every citizen who regularly pays electricity bills is entitled to safe and high-quality power supply. Montenegro's economic growth last year was 4.3%, and 4.5% in the first quarter of 2018, which must be accompanied by appropriate infrastructure," Economy Minister Dragica Sekulic said in the statement on July 27.
The plan to revitalise the country's medium-voltage and low- voltage electricity distribution system in 2019-2021 was adopted on July 26.
Montenegro adopts €81.6mn plan to revitalise power distribution network