Przewozy Regionalne to spend PLN 0.5 bln on rolling stock

Train operator Przewozy Regionalne is poised to invest PLN 500 million in the years 2016-2018 to modernize its rolling stock, said the CEO and general director Tomasz Pasikowski. Additionally, the company wants to launch a restructuring process to reduce operating costs by PLN 200 million annually. "The restructuring effort encompasses debt relief and the upgrade of rolling stock," Pasikowski said at a press conference.  Since the company isa recipient of state aid and therefore excluded from EU funds, the money for the former purpose is to be obtained commercially. Przewozy Regionalne has already received initial offers from banks. The average age of Przewozy Regionalne's Electric Multiple Unit is 35 years.