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Sep 18, 2007 16:02 EEST
SKOPJE (Macedonia), September 18 (SeeNews) – Makedonski Zeleznici (MZ), the Macedonian state railways company, has decided to cancel four routes to cut costs, the company said on Tuesday.
The measure, which will be enforced next week, envisages the cancellation of four train lines, from Skopje to Tabanovce, Veles, Bitola and Gevgelija.
“The total reduction of expenditures from the maintenance of the four lines is expected to be some 279 million denars ($6.3 million/4.5 million euro),” MZ said in a statement posted on its website.
MZ's outstanding debt at the end of 2004 totalled 143 million euro, equal to about 3.3% of Macedonia's GDP, according to the latest data available.
Meanwhile, MZ management is expected to hold a new round of negotiations in Paris for lobbying at European transport companies to forgive part of its debts. The talks refer to 22 million euro in debts to the railway operators of Hungary, Bulgaria and Croatia, accumulated in the period from 1991 to 1996.
MZ (www.mz.com.mk) is one of the largest loss-makers among public sector enterprises Macedonia, a country of two million people.
(1 euro = 61.5176 denars)
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