Bulgarian Railways to Buy New Carriages, Should Debts be Extended
The Bulgarian State Railways (BDZ) is planning to invest BGN 150 M in new train cars, should the deal with its creditors for extending the debt repayment go through this week.
The Transportation Minister, Danail Papazov stressed that the condition of the current train cars is dismal, and the only new ones are the sleeping carriages between Sofia and the Black Sea.
In order for BDZ to start investing in new cars however, a deal must be reached to extend the holding's debt, which amounts to BGN 624 M, for a period of 10 years.
The next round of negotiations with the creditors will take place in Vienna on Thursday. If the deal is reached, the Bulgarian government will transfer a financial stabilization package of BGN 30 M to BDZ.
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