IRS rail cars for Serbia worth €57 mln

The IRS Group, owned by businessman Cristian Burci, will produce 750 Eanoss cars by the end of the year, according to information supplied by the company. The cars are intended for the Serbian Railway fleet, and will be financed by the European Bank for Reconstruction and Development (EBRD).

“This is the most important acquisition of railway goods cars for the Serbian Railway in over 15 years, demonstrating the huge demand for goods cars, not only in Serbia, but throughout the region,” said Burci. He added that IRS was designated winner of the bid due to the superior quality of its cars and capacity to deliver the products on time. To date, the major investor in Serbia is EBRD, with investments of over €1 billion for 65 projects.

At the end of last year, IRS and Germany’s national railway, Deutsche Bahn (DB), signed an agreement for the construction of six thousand new cars.

Last year, IRS acquired from SIF Oltenia its 16.5 percent share package of the SMR Bals company, which specializes in the construction and repair of rolling stock, for €5.6 mln, at an average price per share of RON 14.7. SMR Bals is controlled by MR Investitii Industriale, which owns 75 percent of the stock.

International Railway Systems has its headquarters in Luxembourg, and operates in Romania through goods railway car factories Astra Arad, Meva Turnu Severin and Romvag Caracal.