Koleje Mazowieckie established as an independent rail carrier

Koleje Mazowieckie (KM) yesterday became the first regional railway company, marked by the signing of a notary deed establishing the company. At present it has two shareholders - PKP Przewozy Regionalne, which has a 49% stake and the Mazowieckie voivodship regional government with 51% of the shares. The carrier will has begun operations with an initial capital of just zł.50,000. Polish State Railways (PKP) declared that they will transfer some of their property to the new enterprise, but this will be difficult because the property in question is currently being used as collateral on PKP's massive debts. With regional governments responsible for subsidizing local rail transport from the beginning of this year, the Mazowieckie voivodship became the first to move for more control over the costs of this activity. (Parkiet, p. 9) T.J.