Bourgas Shipyards Assets Put Up for Sale at 24.3 Mln Euro

Bourgas Shipyards Assets Put Up for Sale at 24.3 Mln Euro

Assets of Bulgaria’s Bourgas Shipyards have been put up for sale at a combined 47.5 million levs ($33.9 million/24.3 million euro), auction notices indicated.

The assets will be auctioned in four separate tenders, notices published on the website of the Bulgarian Chamber of Private Enforcement Agents indicated.

The largest lot of assets of 562,119 square metres (sq m) in area will be traded at a starting price of 46.9 million levs. The assets from the other three auction notices have a combined area of 10,396 sq m and a total value of 616,275 levs.

Bids for the assets can be submitted from March 14 to April 14. The winners in the auctions will be announced on April 15.

Bourgas Shipyards occupies a 70 hectare land plot, strategically located between the coastal city of Burgas and Foros, a residential and holiday complex project in development.

The ship builder was privatised in 2000. In Its heyday, Bourgas Shipyards employed over 1,000, but lately it has been near insolvency.

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