Chinese rolling stock manufacturer China Railway Rolling Stock Corporation (CRRC) has proposed to invest 300 million euros under a project of strategic partnership with Bulgarian railway company BDZ, according to the Bulgarian Transport Ministry.
A total of 130 million euros will be used to re-finance BDZ’s outstanding debt. The remaining 170 million euros will be used for the purchase of new electric and diesel multiple-unit trains, the Transport Ministry added.
The investment proposal submitted by CRRC also includes the delivery of new rolling stock to meet BDZ’s most urgent needs. In addition, the company is proposing to invest in a new plant for the assembly of electric and diesel multiple-unit trains. The new plant will be built on BDZ-owned property.
The next step in the development of the strategic partnership will be the establishment of a joint committee with representatives of BDZ, CRRC, the Bulgarian Transport Ministry and Chinese financial institutions. The committee will then decide on the details of the implementation of the investment proposal.
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