Bulgaria Inks $580M Deal with Alstom for Electric Trains
SOFIA (Reuters) -Bulgaria signed a one billion lev ($580.65 million) contract with French train maker Alstom for the delivery of electric trains to reduce the carbon footprint of its railway transportation sector, the government said on Friday.
The European Union member, which produces almost half of its electricity in coal-fired power plants, needs to reduce its dependency on fossil fuels and catch up with its peers in reducing greenhouse gas emissions.
Alstom will supply Bulgaria with 35 zero-emission electric multiple units, the government statement said. Twelve of those 35 will be financed with the EU recovery funds money, while the remaining will be financed by Bulgaria.
The first deliveries are expected by August next year, the statement said.
"Complex tasks are ahead of us," Prime Minister Zhelyazkov said after the signing ceremony referring to restructuring of the state railway company and repair of the railway tracks to make them ready for the new trains.
($1 = 1.7222 leva)
(Reporting by Ivana Sekularac and Stoyan Nenov, Editing by Louise Heavens)
