Bulgaria's Shipyard Launches 1st New Ship in Years

Business | October 19, 2003, Sunday // 00:00| Views: | Comments: 0

Varna Shipyard situated in Bulgaria's biggest coastal city launched on Sunday its first new ship produced since its bankruptcy in 1998, Bulgaria's Transport Ministry announced.

The 42,000-toned ship was officially named after one of Bulgaria's Stara Planina mountain peaks "Bulgarka" (Bulgarian woman). Bulgaria's Transport Minister Nikolay Vassilev attended the ceremony.

The construction of the ship so far cost USD 5.5 M. It is going to be registered in Malta as that was one of the requirements of the bank that allotted the loan for the construction works. The ship is expected to sail off by the middle of December 2003.
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