Minister Recommends Restarting Privatization of Freight Unit of Bulgarian State Railways

Business | November 17, 2014, Monday // 17:08| Views: | Comments: 0
Bulgaria: Minister Recommends Restarting Privatization of Freight Unit of Bulgarian State Railways Bulgaria's Transport Minister Ivaylo Moskovski, photo by BGNES

Transport Minister Ivaylo Moskovski has insisted that the privatization of the freight unit of the Bulgarian State Railways (BDZ) company should be restarted.

In a Monday interview for the Bulgarian National Television, Moskovski claimed that it was impossible to make BDZ stand on its feet before a restructuring.

BDZ Passenger Services can be moved to a holding company including the National Railway Infrastructure Company (NRIC), thereby boosting its financial indicators and enabling it to receive funding under Operational Program Transport,” Moskovski declared.

He underscored that BDZ Passenger Services needed a technical upgrade, adding that there were several options for the funding, including capital transfer from the state budget, loan funding, and funding under an operational program

He explained that the debts of the BDZ Freight Services had spiked from BGN 3 M to BGN 14.5 M in a year.

Moskovski was adamant that BDZ could not be helped to stand on its feet in its current form.

He suggested, however, that the authorities could try to make BDZ Passenger Services “a stable and normal company.”

Bulgaria’s Transport Minister went on to say that there were nine railway stations which posed a threat of accidents.

Moskovski made clear that Transport Ministry officials would evaluate the risk at the nine railway stations and stop rail traffic in the areas, if necessary.

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Tags: Transport Minister, Ivaylo Moskovski, Bulgarian State Railways, BDZ, BDZ Freight Services, BDZ Passenger Services, privatizaiton, National Railway Infrastructure Company
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