Bulgaria to Invest EUR 1 B in Railway System

Bulgaria plans to invest some BGN 2 B in its railway system during the 2014-20 EU programin period, stated Bulgarian Minister of Transport Danail Papazov.

Among the priorit rail lines will be those carryin international traffic, such as Sofia-Svilengrad, Sofia-Burgas, Vidin-Sofia and Varna-Ruse.

"Our main goal is to increase the speed and safety of our railroads," stated Papazov.

He also stressed that his ministry is hard at work to revive the ailing Bulgarian State Railways (BDZ) company, including via EU funds.

"We are attempting many things here, for BDZ's condition is very grave," added Papazov.

Bulgaria's former cabinet of cener-rightist party GERB planned to privatize BDZ's lucrative Freight Transport unit to pay off the company's debt.

Bulgaria's new cabinet, backed by the Bulgarian Socialist Party and the liberal movement for rights and Freedoms, has stated it is scrapping those plans and will seek other means.

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