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Saturday, 20.04.2024, 02:40
European and state support brought Estonian company Elron giant profit
BC, Tallinn, 23.07.2014.
Print version
Print versionThe 75.4 million euro funding by the European Commission and the Estonian government for buying new trains brought Estonian state-owned passenger train company Elron last year 68.6 million euros of profit, informs LETA reffering to Postimees.
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Due to the agreement with the Republic of Estonia on the acquisition and financing of passenger trains and the procurement contract of diesel trains, the rental payments for the diesel trains start after the arrival of the trains, but not earlier than in 2014, Elron (official name Eesti Liinirongid) writes in its annual financial statement for 2013.
The company's net sales amounted to EUR 2.2 million and interest and finance costs just 7,147 euros.
Elron, formerly called Elektriraudtee, last year operated only electric commuter trains in Tallinn and its vicinity but starting this year, operates also intercity diesel train traffic in all of Estonia.
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