Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

18 Mar 2003



PSD disclosed:

30 May 2003

Project Description

Proposed refurbishment of five main city railway stations in Romania to improve their amenity to passengers while at the same time increasing space available for commercial use. Assistance in improving property management policies to maximise revenue earning potential of the railway property portfolio.

Project objectives:

  • Modernisation of 5 major city railway stations to increase retail revenue, improve customer amenity and reduce maintenance costs


  • Preparation and implementation of a Property Plan for exploiting all CFR’s surplus property and non-core assets.

Transition Impact

  • Commercialisation and market expansion: The Project will: (a) create specific improvements in the commercial performance of CFR by enhancing revenue earning potential and cutting energy and maintenance costs at major stations; (b) create opportunities for private businesses (particularly small enterprises) in stations; and (c) identify commercial opportunities for exploiting CFR’s other land and property resources in a Property Plan.


  • Frameworks for markets: The Project will support the need to maintain a fair and transparent track access regime for third party operators.


  • Market based conduct, skills and innovation: The Project will: (a) require CFR to adopt more rigorous Business Planning methods than hitherto; (b) provide the basis for a programme which could be applied to other smaller stations; and (c) provide a model to the industry for the management of rail infrastructure companies, a number of which are likely to emerge in the Bank’s region of operations in future years.

The Client

Caile Ferate Romane SA (CFR) a company wholly owned by the State and responsible for operating railway infrastructure in Romania.

EBRD Finance

€24 million sovereign-guaranteed loan.

Project Cost

€27 million.

Environmental Impact

The project was screened B/0 requiring an Environmental Analysis of the proposed modernisation. There are unlikely to any significant issues associated with this operation. Consultants have been engaged to undertake an environmental analysis as part of the overall work. That analysis will identify the environmental issues associated with each investment component along with potential effects and mitigation measures. An Environmental Action Plan, based on the findings of the environmental analysis, will be prepared.

Technical Cooperation

€450,000 grant from Central European Initiative for project preparation and specialist advice during project implementation.

Procurement or tendering opportunities

Visit EBRD Procurement 
Enquiries: Tel: +44 20 7338 6794; Fax: +44 20 7338 7472, Email:

General enquiries

EBRD project enquiries not related to procurement: 
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380 


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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