Bulgaria's State Railways to Scrap Property for BGN 19M
Deputy Prime Minister Daniela Bobeva has started negotiations with the international creditors of Bulgarian State Railways who have agreed to reschedule loans for 10 years.
The Holding's total liabilities currently amount to BGN 620M compared to BGN 704M in May, 2013, CEO Hristian Krastev told in an interview for Trud Daily.
For the first time in recent years, BGN 66M principals on overdue loans coming up to BGN 150M have been paid, Krastev said.
The Holding intends to sell all unnecessary assets - buildings, unused and scrapped coaches and lodgings. The expected revenues are nearly BGN 19M. Krastev has confirmed his intention to purchase 20 electric railcars. The contract will be announced in April.
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