Montenegro Railways (ŽPCG) experienced its most significant influx of revenue and highest passenger count in international travel since 2016 during the past year.
According to ŽPCG, the Board of Directors convened for 38 meetings and made 107 decisions and 52 conclusions between April 19 of last year and April 11 of this year.
“In international travel, last year saw the highest revenue accumulation since 2016, totaling EUR 1,971,183. Similarly, the total revenue for both international and domestic travel peaked last year at EUR 3,518,767,” stated the report.
The report also highlighted that last year marked the highest number of passengers transported in international travel, totaling 169,183, while the highest number of passengers in local travel was recorded in 2016 when the most trains were introduced.
“The Board of Directors, in collaboration with the management, placed a priority on passenger safety. Recognizing ŽPCG as a company of public interest, the Board emphasized a clear developmental strategy: to allocate all available resources towards ensuring safe, comfortable, and hygienic transportation for passengers,” the statement added.
ŽPCG further noted that the overhaul of sleeping, couchette, and seated passenger cars for international transport was completed last year, along with the overhaul of locomotives for local passenger traffic.
Investment activities in rolling stock amounted to EUR 1,866,363.70, inclusive of value-added tax.
“The Board of Directors, along with the Executive Director and management, achieved significant milestones, addressing numerous long-standing issues and actively working towards improving and modernizing passenger transportation services in Montenegro,” the statement emphasized.
Additionally, the report highlighted the successful tourist season of the previous year and the well-prepared tourist season for the current year, alongside various investment projects.
Furthermore, the signing of the Collective Agreement and the adoption of the staffing table aimed to enhance the earnings and position of ŽPCG employees.
“Through collaboration with foreign markets, significant projects have been initiated and executed. Positioned on the map as a recognizable tourist destination in Montenegro, ŽPCG has embarked on resolving key urgent and strategic issues vital for the company’s operations,” the statement concluded.
The report underscored the significance of significantly reducing accumulated tax obligations from previous years and securing conditions for the acquisition of new rolling stock through a EUR 30 million credit arrangement with the EBRD, which is currently in the final stage of formal approval.
Moreover, in response to the Ministry’s request, the decommissioning of trains that were withdrawn in 2008 has been carried out, addressing an issue that previous Boards of Directors had neglected for 15 years.
“With active participation from the Ministry and the Railway Administration, the issue of renting the Blue Hall for the maintenance of railway rolling stock has been resolved,” the statement concluded.
