Bulgaria's Transport Minister: Restructuring Cargo Unit of Railway Co Is High Priority

Domestic | June 24, 2013, Monday // 16:50|  views

Bulgarian Transport Minister Danail Papazov, photo by BGNES

Transport Minister Danail Papazov has indicated the restructuring of the cargo unit of the Bulgarian State Railways company, BDZ, as a priority during a visit to the Black Sea city of Burgas.

"If we had not stopped the privatization of the Freight Services unit, we would have gotten some BGN 114-115 M, which would have covered only a part of the debts," Papazov said Monday, as cited by the Bgnes news agency.

Papazov explained that BDZ had amassed debts of around BGN 709 M, of which BGN 158 in overdue debts, adding that the company was in a critical condition.

He went on to say that he had plans about restructuring BDZ Freight Services so that it started functioning and was able to sustain itself.

Commenting on threats of motorists to stage protests against the appointment of an inexperienced Deputy Transport Minister,Petar Kirov, Papazov argued that Kirov was an expert with a proven track record.

He noted that Kirov's main responsibilities would involve Operational Program "Transport", not automobile transport.

Papazov attended Monday the signing of a contract between the Bulgarian Ports Infrastructure Company and the Midiya Diana Commerce consortium for the designing, construction and furnishing of the buildings of the shore-based centers for information services and management of shipping in Burgas and Varna.

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Tags: Danail Papazov, Transport Minister, state railways, BDZ, BDZ Freight Services, Bulgarian State Railways, privatization


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