The $18 million value set in an appraisal of the Varna shipyard was realistic, Economy Minister Nikolai Vassilev said in Parliament last Friday.
An auction for the shipyard would be invited about a month from now, he said.
Vassilev said Bulgaria relied both on foreign and domestic investors for the deal. The important thing was to sell the shipyard fast at the best price and to a buyer who was experienced in shipbuilding, Vassilev said. The Government had the task of providing the best conditions for the shipyard to make a profit for decades to come, he said.
Having passed the insolvency procedure, the shipyard will sell only clean assets and the buyer will inherit no outstanding debts from before 1999. Vassilev said that since July 30, 2001, the working group in charge of the shipyard has negotiated with about 10 potential buyers.
An auction for the shipyard would be invited about a month from now, he said.
Vassilev said Bulgaria relied both on foreign and domestic investors for the deal. The important thing was to sell the shipyard fast at the best price and to a buyer who was experienced in shipbuilding, Vassilev said. The Government had the task of providing the best conditions for the shipyard to make a profit for decades to come, he said.
Having passed the insolvency procedure, the shipyard will sell only clean assets and the buyer will inherit no outstanding debts from before 1999. Vassilev said that since July 30, 2001, the working group in charge of the shipyard has negotiated with about 10 potential buyers.
