Fri, Feb 10 2012
The project is worth 187 million euro, of which 64 per cent will be financed with European Union structural funds.
Bulgaria’s Transport Ministry will meet on November 3 with the creditors of state railway carrier BDZ to ask for a grace period until the end of 2010.
Only a handful of bodies have initiated radical reforms of their structures to match operating activities with the patchy budgets. But even that would not be enough to bridge the financial gap in some sectors.
The newly-appointed BDZ CEO is Pencho Popov, while everyone else at the management board of the company also has been replaced. The Transport Ministry has not disclosed any further details as to why they were fired, however.
Rail unions and Transport Minister Alexander Tsvetkov will meet on October 1 2009 to discuss the state monopoly's troubled finances.
Liquidity trouble because of losses accumulated from delayed payments by partners and customers, according to a survey by international debt management group EOS Matrix on payment habits across Europe in 2009.
Temporary wage cut is part of anti-crisis agreement reached with unions earlier in 2009. The National Railway Infrastructure Company has a 50 million leva deficit.
The phrase "a hell of a way to run a railroad" is extremely apposite regarding Bulgarian State Railways, BDZ.
Two trains, one bound for Bourgas from Sofia and the other headed from the Black Sea to the capital, will aim to ease the heavy traffic during the peak summer season.
The first tremor was at about 12.34am, followed by another three minutes later. Their epicentres were located between the towns of Radnevo and Topolovgrad.
There was no risk of blackouts caused by insufficient power supply, Economy Minister Traicho Traikov told Bulgarian National Radio.
Bulgarian Cabinet is looking at domestic market to refinance foreign debt, but has back-up plan in place
Government and individuals come up with cash to help those hard-hit by floods and freezing weather.
The discovery was made after some of the land in a complex near Bourgas was washed away by rough seas.