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Slovak state-run rail company up for privatization

Xinhua, May 29, 2015 Adjust font size:

The Slovak state-run rail freight company ZSSK Cargo could be up for sale again, announced the company's chief Jan Luptak on Friday.

"Now is the right time. We have long-term contracts, the company will be free from debts and stable. Everything indicates now that (ZSSK) Cargo could be offered for sale now," stressed Luptak.

The idea comes shortly after ZSSK Cargo sold 12,000 wagons for 216 million euro (235 million U.S. Dollars) to German company VTG, which recently acquired a 66-percent stake in Cargo Wagon, one of the subsidiaries of ZSSK Cargo.

The Slovak Transport Ministry remains opposed to the idea of privatizing ZSSK Cargo, however, "the issue of Cargo's privatization isn't on the front burner, and it certainly won't be addressed by the incumbent Government. We can't tell what strategy future governments will pursue, though," pointed out ministry spokesman Martin Kona.

The first attempt to sell the company ZSSK Cargo was halted by Robert Fico's first government nine years ago. The idea was later revisited during Iveta Radicova's cabinet (2010-12). Endit