Search Company:
Shipping giant MSC has been selected to take over 50 per cent of the Spanish national rail freight operator Renfe Mercancías. The initiative is expected to help Renfe Merciancías’ operations and finances, given that the company had 38 million euros in debts in 2022.
MSC’s partial takeover will be carried out through its logistics arm, Medlog, and railway operator, Medway. The decision came after Renfe’s board of directors met on Monday 25 September and now needs to be authorised by the Spanish government. The rest of the details will be discussed and finalised once this happens. However, it is already known that Medway will be in charge of the Rolling Highway between Madrid and Valencia, which should be ready by next year.
According to various Spanish media, including El Mercantil, Renfe intends to keep 100 per cent of its workforce, which will either join the new project or be transferred to Renfe. The company’s quest for an industrial partner started in April 2022, with over 30 proposals being submitted. MSC’s proposal was selected over the ones brought forward by two other dominant logistics players: Maersk and CMA CGM. Despite official numbers are not available, Spanish media claims the operation will cost MSC around 200 million euros. Read more
Source: RAILFREIGHT.COM
