ANOTHER open-access freight operator took to the rails of the Italian network on November 22 with the launch of Ferrovie Nord Cargo. Based in Milano, FNC is the former freight division of Ferrovie Nord Milano, reconstituted as a wholly-owned subsidiary company. In turn, FNC holds FNM’s 76% stake in Eurocombi and 70% shareholding in Cargo Clay.
FNC General Manager Marco Forfino said that the group’s freight traffic had risen dramatically since the start of liberalisation two years ago. He expected freight revenues to increase from €6·8m in 2002 to around €19m this year and over €120m by 2007, when the company’s 70 pairs of trains a week would have risen to over 200. This will require investment of over €100m in locomotives during 2003-06, expanding the fleet from 17 to 34 units.