China Railway Rolling Stock Corp offers to refinance €130 million EUR of BDZ Holding's debt (Linked to Project ID#67147 and #67495)

On March 9, 2017, Bulgaria's Minister of Transport, Information Technology, and Communications, Hristo Alexiev, announced that China Railway Rolling Stock Corp had submitted a proposal to make a significant investment in national rail operator BDZ Holding. According to Railway Gazzetta International, there are three elements to the CRRC proposal; (1) Chinese refinancing €130 million EUR of BDZ Holding's debt; in February, the minister said an existing loan had an undesirable interest rate of 8% (2) Supplying new diesel and electric multiple-units worth €170 million EUR. These would conform with national and European standards, and be delivered promptly to help meet BDZ's urgent requirement for working rolling stock (see project #67147 for more information) (3) Chinese investment of €300 million EUR in a new factory for the assembly of multiple-units in Bulgaria (see project #67495 for more information). China Railway Rolling Stock Corp (CRRC) is a Chinese publicly traded rolling stock manufacturer and is the largest rolling stock manufacturer in the world. The parent company is CRRC Group, a state-owned enterprise that was supervised by the State-owned Assets Supervision and Administration Commission of the State Council. The State Council also owned additional shares via China Securities Finance and Central Huijin Investment.

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