Bulgaria Abandons Privatization of Cargo Railway Unit

Business | June 20, 2013, Thursday // 15:35| Views: | Comments: 0
Bulgaria: Bulgaria Abandons Privatization of Cargo Railway Unit File photo by BGNES

The Bulgarian Agency for Privatization and Post-Privatization Control has decided to cancel the procedure for the privatization of the freight unit of the Bulgarian State Railways Company.

The Agency has noted that the decision was coordinated with the Ministry of Transport.
The Socialist-led government of PM Plamen Oresharski hinted that it would stop the privatization of the freight unit soon after it took over at the end of May.

In mid-November 2012, Bulgaria's Privatization Agency launched a second privatization procedure for BDZ's Freight Services, after the first one fell through.

The second attempt to sell the cargo unit of BDZ only included strategic and financial investors.

The planned privatization of BDZ's profit making unit, Freight Services, aimed to secure money to cover huge debts of the company and help revive its other unit, Passenger Services.

Business » Be a reporter: Write and send your article
Tags: privatizaiton, Danail Papazov, assets, cargo unit, bond, Bulgarian State Railways, BDZ, Freight Services, Passenger Services, Agency
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria