Mangalia shipyard back on sale

The tender for the privatization of the Santierul Naval Mangalia Shipyard in Romania could resume this autumn as new evaluation procedures are under way, said the shipyard’s General Director Eugen Tudor. This follows the failure of the first tender in January which was won by Daewoo Mangalia Heavy Industries with an offer of 3.6 million euros but later withdrew from the privatization process. Tudor claims that the Korean company quit the process because of the yard’s new management, which favored a strategy of intensive development instead of expanding activities. Daewoo explained its reaction by disagreements with the ministry regarding expunging the shipyard’s debt.

How soon the new privatisation procedure will start depends on the Ministry of Economy who is in charge of preliminary proceedings, explained the official.