BUCHAREST (Romania), September 21 (SeeNews) - Italian group Salcef said on Wednesday it has won two framework agreements with the Romanian National Railway Transport Company (CFR) for track renewal in the Timisoara and Cluj areas.
The overall value of the contracts can vary from 70 million euro to 235 million euro ($233 million), depending on CFR's operating needs, Salcef said in a press release.
The two lots encompasses track renewal of up to 170 km in Timisoara and up to 185 km in Cluj, expected to be completed in 2026.
"In a year characterized by excellent commercial results that strengthen the Group’s backlog and medium-long term outlook, we are pleased to contribute to the development of the railway transportation system in Romania," Salcef Group CEO Valeriano Salciccia said.
"With these two framework agreements we confirm our presence in the country, where we operate since 2007 and where we completed sizeable projects in railway transportation and urban mobility. Moreover, the new contracts prove the active role of the Salcef Group in the transition towards sustainable mobility in the European Union."
These agreements are part of a maintenance plan that addresses over 1,400 km of railways, split in right lots, funded by the Romanian Recovery and Resilience Plan (PNRR). Under the plan, Romania stand to receive total 29 billion euro in loans and grants, of which 4 billion euro are to be invested in the modernization of the railway infrastructure and rolling stock.
During 2007-2011, Salcef rehabilitated and upgraded a 264 km railway section between Bucharest and Constanta, while during 2017-2019, it built 15 km of slab track on concrete blocks for the Bucharest metro line M5, according to its website.
Established in 1949, Salcef has six operative business units and is present on four continents. It employs more than 1,400 and in 2021 booked revenues for 440 million euro. The group is based in Italy and since October 2021 is listed on the STAR segment of the Euronext Milan market of the Italian Stock Exchange.