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Railways of Montenegro Expecting a Loss of EUR 8 Mln

June 2008.

President of the Board of Directors of Zeljeznica Crne Gore (railways of Montenegro) Miodrag Gomilanovic said that the independent auditor has still not verified the financial results of the company, and the preliminary data say that the loss for 2007 will amount to between EUR 7 and 8m, 5m of which is depreciation, and EUR 2.4m is the so called reserved damage intended for passengers who had an accident in 2006. Gomilanovic stated that they are expecting to transport 2m tons of goods in 2008 and that they are optimistic because of the contracts they concluded with Kombinat aluminijuma (KAP) and ironworks from Niksic and Smederevo, Railway Market-CEE Review reports.


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