Bulgaria's Railways Sector Is in Poor State – Transport Minister

Business | July 3, 2014, Thursday // 12:36| Views: | Comments: 0
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Bulgaria: Bulgaria's Railways Sector Is in Poor State – Transport Minister Bulgaria's Transport Minister Danail Papazov. Photo by BGNES.

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.

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Tags: State Railways company, BDZ, Danail Papazov, National Railway Infrastructure Company, Transport Minister
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