The initial evaluation of BDZ - Freight Services to be lowered

“We hope the privatisation of BDZ - Freight Services will become a fact by the end of the year,” company Manager Plamen Dzhurov told reporters. “A revaluation of the company’s assets and a change of the privatisation procedure is necessary,” he added, specifying that no information about the evaluation is available yet, but the price will probably be lower than the initially set BGN 200 mln.

“The aim is clear - privatisation of BDZ - Freight Services - but not at any cost. So far as I know, the privatisation has not been suspended, only the type of the divestment procedure has been cancelled. From now on, it will continue at easier financial conditions,” said Dzhurov.

“You can see the economic situation. The market of freight services is part of the unfavourable economic environment in Bulgaria. We are not likely to increase our revenues by the end of the year. Therefore, we are directing all our efforts at reducing costs,” commented Dzhurov and specified that BDZ - Freight Services was some BGN 5 mln in the red for the first half of 2012.

The Finance Ministry remitted BGN 14 mln to BDZ Holding on Tuesday – the subsidy for July. In this connection, Deputy Finance Minister Vladislav Goranov said on Thursday that the annual maintenance of BDZ Holding costs each Bulgarian taxpayer about BGN 50.

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