The capital of state-owned Railways will be raised, the Cabinet decided on December 27. The move is part of the plan for restructuring the company into two separate entities next year. The capital increase will be carried out through by issuing 12,79 M shares with face value of BGN 10 each. The decision for the split of the debt-ridden company into infrastructure and railway carrier units was taken by the Cabinet last week in lines with European Union guidelines. As part of the restructuring program the International Monetary Fund urged Bulgaria to cut loss-incurring passenger lines, reduce the staff and sell some of the railway’s assets that are not in use.