Bulgaria's Railways Sector Is in Poor State – Transport Minister
Bulgaria's State Railways company (BDZ) has recorded losses of BGN 21,279,000 for the first half of 2014 only.
In 2013, the holding saw losses of nearly BGN 9M, and in 2012 – some BGN 29,576,000, the Minister of Transport Danail Papazov announced at a press conference on Thursday, BGNES informs.
Minister Papazov presented the financial state of the companies and the enterprises under the transport ministry. The lowest financial result was recorded by Holding BDZ EAD, followed by the National Railway Infrastructure Company, which reported losses of BGN 18.7M for Q1 of 2014.
According to the Transport Minister, whoever takes his position should be prepared that the situation in the railway sector is the worst, also because the repair of the infrastructure hinders both freight and passenger services.
"More than 100 repair works are currently underway on the railway infrastructure tracks. We tried to work faster so that all the projects meet the contract deadlines,” said Papazov.
- » Audit Finds BGN 4.2 B Impairment Costs on KTB Balance Sheet, Bulgaria C. Bank Says
- » Westinghouse Picks М3 Communications for Its PR Agency in Bulgaria
- » Bulgaria, Romania Agree to Build 2 More Bridges over Danube River
- » Bulgaria's National Tourism Council Demands Separate Ministry
- » Bulgaria's Plovdiv Among Lonely Planet's Best Travel Destinations 2015
- » Bulgaria, Romania to Sign Memorandum To Build Two New Bridges Over Danube