Romanian railways company CFR has an investment budget of EUR 380 mln for 2014

Romania’s National Railway Company CFR SA has an investment budget of RON 1.69 billion (some EUR 380 million) for this year, according to the 2014 budget of revenues and expenses published in the Official Gazette, cited by local Agerpres. The company’s total revenues were set at RON 2.7 billion (EUR 604 million), a similar amount also being estimated for the expenses. The staff expenses are estimated at RON 827.8 million (around EUR 185 million), of which RON 644.2 million (over EUR 144 million) are salary costs. The number of employees is estimated at over 22,800. The average monthly earning per employee, determined based on the salary costs, is of some RON 2,300 (EUR 514). The company is majority owned by the Romanian state. Irina Popescu, irina.popescu@romania-insider.com