Romania to privatise Mangalia shipyard

The Romanian government has launched tenders for the sale of its shipbuilding facility in the southeastern city of Mangalia, the national State Assets Agency (AVAS) said. The state plans to sell the entire company to a bidder who will then have five years to invest at least 4.5 mln euros in the shipyard. Interested parties have until July 3 to submit offers.

The current social capital of the company is some 1.6 million euros and its main activities consist of ships construction, maintenance and repairs. The business plan must include at least 4.5 million euros worth investments for the first five years, out of which 2.5 millions in the first year.