PKP Cancels Pendolino Order – Brief Article
POLISH State Railways (PKP) has decided to cancel its $US 200 million order with Fiat Ferroviaria, Italy, for 16 Pendolino trains due to a shortage of funds. The 250km/h tilting trains would have suhstantially increased the quality of PKP’s long-distance passenger services. Delivery should have started in September.
PKP adopted a restructuring plan in September last year which did not include any major investment projects. In addition, PKP’s financial performance has deteriorated since the order was placed in 1998.
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