Send to Kindle
Desiro train. Photo: Wikipedia
The creditors of Bulgaria's State Railways (BDZ) will most likely sell of the company's most valuable assets, said Transport Minister Danail Papazov.
According to him, the large creditors – the banks BNP Paribas, Societe Generale, KFW, Dexia, Depfa and First Investment Bank – will have a meeting in the beginning of May, at which will decide to sell off the 25 diesel Desiro trains and more than 3000 freight cars.
According to Papazov, this would not bankrupt BDZ.
The company owes its creditors BGN 620 M. The negotiations with them are hard, as they want a meeting with Prime Minister Plamen Oresharski and a state guarantee covering the debts.
Papazov said the hardest negotiations were with the German FMS Wertmanagement who froze BDZ's bank accounts in March because of a default on EUR 11 M debt.
An year earlier Depfa Bank froze the assets of BDZ Freight Transports, again because of default on a loan.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
In a concerning revelation, the ad hoc committee investigating the activities of Gleb Myshin uncovered that over the past three to four years, a staggering 343 candidates from the Russian Federation seeking Bulgarian citizenship were discovered to have su
As the summer season draws near, the issue of staffing in the tourism sector in Bulgaria comes to the forefront once again, with the workforce having to depend on individuals from foreign countries for yet another year
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
Deputy Minister of Transport and Communications, Anna Natova, announced the commencement of construction for an outdoor parking lot at Terminal 2 of Sofia Airport
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
