site.btaAngel Stoyanov Is New Director General of Holding BDZ

Angel Stoyanov will be Director General of Holding Bulgarian State Railways (BDZ), Transport and Communications Minister Nikolay Sabev told BTA on Tuesday. He described Stoyanov as an outstanding expert, who is knowledgeable about railways and is also good with numbers.

Asked why Yordan Mirchev was dismissed as Executive Director and Member of the Board of Directors, which was announced by the Transport Ministry late on Monday, Sabev said: "When we announced the start of a merger of the three companies - BDZ Passenger Services, BDZ Freight Services and Holding BDZ - the Board of Directors prepared a roadmap which laid down the legal framework of merging the three companies into one." Sabev said he sent back two draft business plans, of which the second one by no means planned for the economic results of the merger. "I had to do the work of BDZ executive director which was not right because I also have commitments to ports, airports, etc," said Sabev. "I told them, 'Your vision [for the future] is great but what you have done so far does not mean that you want to make it happen'," the Transport Minister said.

Back in February, Sabev unveiled a plan for the merger of the three companies into a single Bulgarian State Railways company. The aim is to streamline the administration and reduce debts. The plan also envisages listing BDZ on the stock exchange early in 2024.