Moldova's state railway company, Calea Ferată din Moldova, is being reorganised, with Parliament passing the necessary bill on second reading. The current state enterprise will become a joint-stock company operating under the name CFM-Infra. The changeover must be completed by 31 December 2026. A press release from the institution confirmed the vote and the timetable. The railway has struggled for years with ageing tracks, worn-out rolling stock and shaky finances. Turning it into a joint-stock company is meant to give the business a clearer commercial structure. The reform also lines up with Moldova's broader push to modernise its transport sector and move closer to European practice. Whether the reorganisation changes much on the ground will only become clear as the deadline approaches.