CFR Demands Derogation For Saint-Gobain Investment

The Romanian Railways (CFR) demanded the government approve public funding for the railway track it is constructing for the Calarasi windowpane factory of French company Saint-Gobain.

The railway track would cost about 761,000 euros. Saint Gobain and the Romanian Agency for Foreign Investment (ARIS) closed in 2004 an agreement for the construction of a glass factory in the area of the Calarasi CFR station, representing an investment of 100 million euros by the French company. Romanian authorities decided to support the project with incentives, such as allowing the factory's connection to the power and natural gas networks and the construction of a connection from the railway network to the factory.

CFR pledged to construct the track with its own funds until September. In June 2005, the law of industrial railways changed, forcing beneficiaries to pay for the construction from their own accounts. CFR demanded the government adopt an ordinance that would allow a derogation, for the sake of the 100 million euro investment. Saint-Gobain started construction of the factory in November 2004.

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600450 CFR Demands Derogation For Saint-Gobain Investment
Date: 31 July 2006

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