EUROFIMA Approves EUR 4.5M for 18 BDZ Used Railcars in Bulgaria

Sofia, Bulgaria – EUROFIMA approved EUR 4.5 million in financing for BDZ Passengers, the second drawdown from a 10-year framework agreement signed in April 2026, to acquire 18 used intercity railcars previously operated in Germany.

How Is the Funding Structured?

The second-tranche loan of EUR 4.5 million carries a 10-year repayment term and forms part of a broader framework that can mobilise up to EUR 22 million for rolling stock renewal. Combined with the first tranche of EUR 8.1 million allocated in April 2026 for 35 similar secondhand cars, EUROFIMA has now committed EUR 12.6 million to BDZ for 53 modernised units. The acquired railcars—each seating up to 80 passengers—have been refurbished with HVAC systems, renewed interiors, and external passenger information displays.

Key Funding Data

How Does This Compare to Similar Funding Programs?

Directly comparable rolling-stock acquisition financing data from other central and eastern European operators was not publicly available at time of publication. However, the EUR 4.5 million tranche and the overall EUR 22 million framework are modest when set against BDZ’s parallel new-train orders. In April 2025 the operator signed a EUR 720 million contract with the BULEMU consortium, under which Alstom is supplying 35 Coradia Stream electric trains valued at EUR 600 million. Earlier, a EUR 256 million deal with Škoda covered 25 RegioPanter EMUs, subsequently expanded to 30 units through an exercised option. The average unit cost of the secondhand railcars financed by EUROFIMA runs at roughly EUR 250,000, versus approximately EUR 17.1 million per new Coradia Stream set. This stark contrast illustrates a dual procurement strategy: low-cost, immediately available used cars to relieve capacity bottlenecks, while long-term fleet renewal rests on higher-value, brand-new electric multiple units. (Sources: BDZ/EUROFIMA, 2026; Alstom, 2025; Škoda, 2024)

Editor’s Analysis

Bulgaria’s reliance on secondhand German rolling stock is a pragmatic response to chronic fleet shortages that cause overcrowding and delays, yet it also highlights the country’s lag in high-speed rail investment. While BDZ funnels resources into life-extension acquisitions, neighbouring Poland advances a €34 million high-speed tunnel preparation contract in Łódź, a signal of diverging infrastructure priorities in the region. (Source: Budimex, 2023) The success of BDZ’s fleet renewal will ultimately hinge on the timely entry into service of the Alstom and Škoda trains and on whether Sofia can secure funding for the track and signalling upgrades needed to exploit their capabilities.

FAQ

Q: How many used railcars is BDZ acquiring in total?
A: BDZ intends to purchase 91 used railcars from Deutsche Bahn. By mid‑2026, EUROFIMA financing had covered 53 of those units across two tranches, with the possibility of additional drawdowns under the EUR 22 million framework.

Q: What is the delivery timeline for these railcars?
A: No specific delivery schedule was disclosed by either BDZ or EUROFIMA. The cars are already modernised and were previously in service in Germany, which suggests a relatively short lead time once financing is finalised.

Q: How does this financing affect BDZ’s broader fleet renewal?
A: The used railcars provide an immediate capacity injection while BDZ awaits delivery of 65 new electric multiple units from Alstom and Škoda under contracts totalling more than EUR 850 million. The used cars address short-term service gaps, but the long-term quality of passenger services will depend on the new fleet coming online.