CHINA’S CRRS INTERESTED IN INVESTING IN BULGARIA’S RAILWAYS

The world's largest company that manufactures locomotives and railcars - CRRS, has intentions to repay part of the debt of the Bulgarian State Railways (BDZ) and to build a plant for locomotives and railcars in Bulgaria, Bulgaria’s caretaker Prime Minister Gerdzhikov and Transport Minister Hristo Alexiev said on 2nd of March during a steam train ride to Cherepish monastery.

The Chinese company intends to repay 250 million BGN – the debt of BDZ to bondholders. The investment will be guaranteed with the annual capital subsidy for the Bulgarian State Railways (BDZ) from the state budget.

Some of the locomotives and railcars that will be made in the plant will be used by the state railways in order to renovate the rolling stock, Alexiev said.

The investment, which the Chinese company is prepared to make, amounts to 500 million BGN.

The talks between Bulgaria and the Chinese company are ongoing.

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