Evrometal, which failed to win Varna Shipyard tender, announced it is still interested in the company and at the beginning of next week at the earliest will announce its decision on appealing against the tender result. The company still has not withdrawn its deposit. Evrometal AD is a private company which jointly with Greece's Sidenor owns 75% of Bulgaria's steel plant Stomana. It was the only company, which complied with the requirements of the procedure and presented a written declaration on preserving the shipyard’s line of business, investment and employment plan, the company’s manager Luydmil Stoykov said, quoted by Pari Daily. Previous to deciding on its bid in the tender the company has consulted all its partners, as well as the servicing banks. Evrometal planned to make shipbuilding the company’s main business, Stoykov said. Bids for Bulgaria’s Varna shipyard reached 84% of the company’s evaluation, which amounted to USD 18 M. That means that in case that there are no violations of the April 2 tender the shipyard will be sold for USD 15,12 M to Navigation Maritime Bulgare, which won the Varna shipyard tender. Two offers were submitted in the tender- of the state-owned Navigation Maritime Bulgare and Evrometal AD. Indonesian gas company Sigasco, whose representatives inspected the shipyard last November, were also interested in participating in the tender, but their deposit – 10% of the start price - was delayed because of the Catholic Easter holidays, during which the European banks did not work. Thus, the Indonesian gas company Sigasco could not participate in the tender. The procedure for submitting offers started March 2. The starting price for the shipyard’s assets was set at nearly USD 14,4 M, or 80 percent of the shipyard's asset valuation, which was made by PricewaterhouseCoopers.

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