Bulgaria's State Railways Liabilities Down by BGN 100M – Min
Bulgarian State Railways company financial liabilities have been reduced by more than BGN 100M, Transport Minister Danail Papazov said, Tuesday.
At the end of 2013, the company's debt amounted to BGN 624M, and currently it is about BGN 605M, Papazov claimed and assured that another BGN 50M will be paid off by the end of 2014, according to Bulgarian media reports.
The majority of creditors accept the plan offered by the Bulgarian government. Negotiations are held with potential manufacturers regarding repair works and equipment maintenance, Papazov said.
Minister Papazov has launched the renovated section of the railway station Mihaylovo under an OP Transport project for the rehabilitation of the track between the cities of Plovdiv and Burgas. The cost of the track is over BGN 35M and it will allow a speed of 160 km per hour.
Deputy Transport Minister Anton Ginev has cautioned on Monday that the Bulgarian State Railways (BDZ) company faces bankruptcy unless its accounts are unblocked.
In early February 2014, German financial institution FMS Wertmanagement froze the bank accounts of BDZ over overdue debts of EUR 11 M.
One year earlier, the assets of the cargo unit of BDZ, BDZ Freight Services, were frozen due to unpaid debts to Depfa bank.
Ginev made clear Monday that Germany insisted on solving the problem with the outstanding debts of the Bulgarian state-owned railway company on a governmental level, adding that a solution was unlikely to be reached soon.
Bulgaria's Deputy Transport Minister did not specify a deadline for the end of the talks but he assured that BDZ had the necessary sum of over BGN 10 M to pay the loan installment due in May.
- » Westinghouse, Gov't to Sign Final Deal on Unit 7 Next Year - CEO
- » Bulgaria's Outgoing PM Downplays Budget Update Affair
- » Socialist MP Backs Faster Deposit Repayment for Supervised Banks
- » Moody’s Cuts Bulgarian Corpbank’s Deposit Ratings
- » Germans' Vacation In Bulgaria 52% Cheaper Than In Germany
- » Bulgaria's GERB Withdraws Support from State Budget Overhaul
We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature
Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker
chain in our offer neither do we get involved in chauffer driven offers. We deliver with time and precision as set forth in our agreement. Our terms and Conditions are
reasonable, below is our instrument description.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC)
2. Total Face Value: Min of 1M Euro/USD (One Million Euro/USD) to Max of 5B Euro/USD (Five Billion Euro/USD).
3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or
4. Age: One Year, One Day
5. Leasing Price: 5.0% of Face Value plus (0.5+X)% commission fees to brokers.
6. Delivery: Bank to Bank SWIFT.
7. Payment: MT-103.
8. Hard Copy: Bonded Courier within 7 banking days.
All relevant business information will be provided upon request.
If Interested kindly contact me via Email:~ Maxie.firstname.lastname@example.org
Skype ID: maxil.finance
So, minister Papazov comes with a good news show, while his BDZ is completely bankrupt. This man has no shame at all! He does even better than the other commie Muftachiev! As if the BG citizens are stupid sheep!
... looking for "Potential manufacturers regarding repair works and equipment maintenance" The trains were never paid to Siemens, in fact after all they were stolen "with the well known smile". Off course Siemens does not send spare parts.