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Praha refurbishment

01 May 2004

A CONSORTIUM including ING Real Estate Development, Supod Praha and Moravka Centrum is to refurbish Praha's Masarykovo station at a cost of up to KC8m.

CD has taken an initial 51% stake in the consortium, in exchange for providing the buildings and land. As the other partners fund the refurbishment, the railway's share will fall to 34%. Grandi Stazioni SpA has contracts to refurbish three Czech stations (RG 2.04 p78), and CD hopes to undertake work at other major stations through a newly-established subsidiary CD-Realty.