Gruia Stoica takes over rolling stock and 350 employees from Rompetrol

Businessman Gruia Stoica, who controls Grup Feroviar Român GFR), the biggest private railway operator on the Romanian market, a part of Grampet, took over the rolling stock and 350 employees of Rompetrol Logistics (RPL), a company held by KazMunaiGaz.

The value of the contract was not made public, but it is in the range of "hundreds of millions of euros," according to Gruia Stoica, who did not wish to provide further details on the transaction.

The carrier has this year signed another major contract on the segment of fuel distribution with Russian-held Lukoil, with GFR clients also including OMV Petrom, ArcelorMittal, Conpet and Compania Naţională a Huilei (National Coal Company).

Rompetrol Logistics shareholders decided to outsource railway transportation services, which had a major contribution to a business that last year reached 48 million euros with 900 employees, according to Finance Ministry data.

Rompetrol Logistics had a 750-rolling stock fleet, according to market information.