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BDZ separation plan approved

01 Mar 2007

BULGARIA: The cabinet approved a plan to further restructure Bulgarian State Railways on January 18, following the creation of financially independent passenger, freight and traction divisions of the national operator on January 1 (RG 12.06 p764).

Transport Minister Peter Mutafchiev plans to create separate telecoms, rolling stock management, maintenance and power supply businesses, which will be able to access EU and private finance.

The sale of BDZ's non-core assets is expected to generate 95m leva towards paying off the company's 424m leva debt.