CARGOUNIT gains momentum with the funding from the Three Seas Initiative Fund
CARGOUNIT has leased a new Smartron locomotive to Romanian company Unicom Tranzit. The expansion of CARGOUNIT's business in Central and Eastern European countries will have a positive impact on the development of transport in the Three Seas Region. The company is owned by the Three Seas Initiative Investment Fund, one of the task of which is to develop transport infrastructure in this part of Europe.
CARGOUNIT is the largest company in Poland and one of the key companies in Central and Eastern Europe which provides locomotive rental services. Its offer includes over 185 locomotives, both traction and shunting ones. The company's comprehensive services are used, among others, by contractors from the fuel, chemical, building materials and intermodal cargo industries and products for the automotive sector.
Currently, CARGOUNIT is focusing on modernising its fleet through the purchase of modern multi-system and single-system locomotives and expansion into new markets. The countries of Central and Eastern Europe remain the key area of development for CARGOUNIT. The current situation on the rail transport market in the freight segment is conducive to the development of locomotive fleets for rent. The demand for modern rolling stock is growing due to the need to replace older vehicles with modern ones, as well as due to the diversion to rail of significant volumes of goods previously exported from Ukraine by sea.
In Bucharest, the company officially handed over the new Smartron locomotive to Unicom Tranzit, the Romanian freight carrier and forwarder. It is adapted for 15 kV or 25 kV AC and equipped with the PZB/LZB train protection system. The locomotive weighs approximately 83 tones and has a wheelbase of 1435 mm. It has a power output of 5.4 MW and travels at a maximum speed of 160 km/h.
"We see great potential for the locomotive rental market in both the Polish market and the Romanian market, which is one of the largest railway markets in Central and Eastern Europe. We are pleased that our new customer Unicom Tranzit has decided to choose the rental offer of two Smartron locomotives from CARGOUNIT, which is one of the first operators to offer the lease of modern locomotives on the Romanian market. We are interested in increasing the number of rented Smartron locomotives on the Romanian market as well as in neighbouring Bulgaria. We are convinced that the Smartron locomotive, based on proven Siemens Mobility solutions, is the right choice for local hauliers looking for a modern and reliable locomotive with the highest technical efficiency" - Łukasz Boroń, CEO of CARGOUNIT Sp. z o.o., said.
First investment of the Three Seas Fund
100 per cent of shares in CARGOUNIT are held by the Three Seas Initiative Investment Fund (3SIIF). The investment in this company was the first ever made by the fund. 3SIIF is the economic dimension of the Three Seas Initiative and Bank Gospodarstwa Krajowego is its originator and main investor. The Fund has been founded by two banks: the Polish BGK and the Romanian Exim Bank. The Fund invests in infrastructure projects in the Three Seas Region in three areas - transport, digital technologies and energy. In addition to strengthening cooperation and improving infrastructure in the region, the Fund's aim is also to bring profit to its investors. Professional and independent entities are responsible for the Fund's investments. The Fund's resources are complementary to public money and EU funds.
Transport is one of the three pillars in which the Fund invests. The investment demand in this sector alone is estimated at EUR 290 billion by 2030 (SpotData). Rolling stock development remains one of the main areas, and this need has been further reinforced by the geopolitical situation in this part of Europe over the past few months.
"Today's handover of the Smartron locomotive to our partners at Unicom Tranzit is an important milestone in the development of CARGOUNIT's business. We are expanding the geographical scope of our business to Romania, which is a key target market for us. CARGOUNIT is going from strength to strength - since the acquisition of the company by the Three Seas Initiative Fund at the end of 2020, we have renewed our fleet with the purchase of more than 50 locomotives. We have a solid long-term vision for CARGOUNIT, which will allow our company to both maintain its market leadership in Poland and expand its operations in the region, thus contributing to the 3SIIF's goals. The handover of the Smartron locomotive is a significant step in our journey together to realise CARGOUNIT's potential in the Three Seas Region" - Cameron Cook, Chairman of the Supervisory Board of CARGOUNIT Ltd, said.