Bulgaria Waiting for EU to OK Aid for State Railways

Business | July 7, 2016, Thursday // 10:46| Views: | Comments: 0
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Bulgaria: Bulgaria Waiting for EU to OK Aid for State Railways File photo, BGNES

Bulgaria expects that EU Commission will allow by September state aid to the debt-ridden national railway carried, Transport Minister Ivaylo Moskovski has said.

A total of BGN 600 M (EUR 307 M) in funding have been earmarked, supposedly from the concession on Sofia Airport announced early in June  (the procedure, however, was halted over a forfeiture claim).

With the Bulgarian State Railways (BDZ) in need of funding and delaying payments for months, the company has piled up debts of around BGN 400 M.

The other BGN 200 M will be spent on the purchase of 15 new railcars that will operate the renovated line between Sofia and Burgas, according to Moskovski.  

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Tags: Bulgarian State Railways, Ivaylo Moskovski, BDZ, Sofia Airport, concession
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