August 19, 2014 / 7:38 AM / in 4 years

Polish PKP Cargo to invest $64 mln on cross-border locomotives

WARSAW, Aug 19 (Reuters) - Poland’s PKP Cargo, the European Union’s No.2 rail cargo operator by tonnage transported, is to invest up to 200 million zlotys ($64 million) on 10 locomotives to strengthen its position in neighbouring countries.

The company, controlled by Poland’s state-run railways operator PKP, wants to double its fleet of multi-system locomotives able to operate in different countries and said the new engines will be delivered in 2016 and 2017.

PKP Cargo, which will be holding a tender for the contract, currently operates 10 multi-system locomotives made by Siemens and Bombardier, in addition to its 1,200 other locomotives.

The gradual economic revival in some parts of Europe has improved demand for transport services and helped to lift PKP Cargo’s first-quarter net profit to almost 58 million zlotys. (1 US dollar = 3.1358 Polish zloty) (Reporting by Marcin Goclowski; Editing by David Goodman)

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