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Bulgarian Railways likely to lose 25 Siemens DMUs and 3407 freight wagons

BDZ, the Bulgarian state-owned railway carrier, is likely to lose 25 Siemens Desiro DMUs and 3407 freight wagons, stated the Bulgarian Ministry of Transport, Daniel Papazov. According to him, the large creditors – the banks BNP Paribas, Societe Generale, KFW, Dexia, Depfa and First Investment Bank – will have a meeting in the beginning of May, at which will decide the sell off.  

The company owes its creditors BGN 620 M (approx. EUR 317 million). The negotiations with them are difficult, as they want a meeting with Prime Minister Plamen Oresharski and a state guarantee covering the debts.

Papazov said the most difficult  negotiations were held with the German FMS Wertmanagement, which froze BDZ’s bank accounts in March because of a default on EUR 11 M debt.

Source http://www.novinite.com; Photo*BGNES

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