Fincantieri in JV offer for Varna yard

Italian ship builder Fincantieri is proposing to invest up to $52 million in a joint venture with Varna Shipyard, Bulgaria’s main shipyard on the Black Sea. Fincantieri claims it could help the Varna-based yard to reach its full capacity within 36 months and start building three 40,000 tonnes vessels annually.

Varna Shipyard CEO, Zlatko Bakalov, claims his company stood a good chance to receive an order from the Bulgarian Navy to build three NATO-standard warships following a tender to be called by the defence ministry. Fincantieri is expected to be one of the bidders for the contract.