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Public Tenders Drained Bulgaria State Railroads of BGN 127 M

Date: 08.03.2010

The Bulgarian State Railroad Company, BDZ, is facing a BGN 700 M debt

The probe of the Transport Ministry had discovered serious violations committed at the Bulgarian State Railroad Company, BDZ, between 2007 and September 2009.

Transport Minister, Alexander Tsvetkov, reported that over BGN 127 M have been lost, calling the waste of resources a “total disgrace.”

The most striking example is a public order, signed in 2008 by the former BDZ Head Hristo Monov, for the delivery of 30 sleeping cars from Switzerland. 18 of the cars, for which EUR 14 M have been paid, are missing and no one knows their location. 12 cars were delivered but 6 are already out of use over malfunctions. The Prosecutor has been notified, Tsvetkov says.

Other violations include the failure of BDZ to collect BGN 35 M in Value Added Taxes (VAT), and unfavorable public tenders for the purchase of computers, consumables and uniforms at highly inflated prices.

The Minister points out that the violations are the main reason for the grave financial situation of BDZ and its staggering BGN 700 M debt.

Tsvetkov is convinced the railroads cannot be stabilized without State assistance.

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