Lurssen LAR GmBH will invest 10.5 million euros in the shipyard in Mangalia port (Romanian Black Sea shore), reads Privatization Authority (AVAS) release.
The association agreement regulates the setting up of an association without juridical personality based on the provisions of the Art. 251-256 of the Romanian Commercial Code and its objective consists in the joint contribution by the contractors viewing the development of a profitable commercial activity in the repair works and building of civil and military ships.
The contract lasts 36 months since it comes into force and can be protracted by the agreement of the parties. In compliance with the Accord, LAR is to invest 10.5 million euros, over 500,000 of it representing the working euro capital.
The Mangalia-based shipyard is specialized in designing, manufacturing, repairing and upgrading sea and river ships and owns assets worth 9.69 million euros, to be the property of Mangalia Shipyard SA all over the association duration.
The association agreement regulates the setting up of an association without juridical personality based on the provisions of the Art. 251-256 of the Romanian Commercial Code and its objective consists in the joint contribution by the contractors viewing the development of a profitable commercial activity in the repair works and building of civil and military ships.
The contract lasts 36 months since it comes into force and can be protracted by the agreement of the parties. In compliance with the Accord, LAR is to invest 10.5 million euros, over 500,000 of it representing the working euro capital.
The Mangalia-based shipyard is specialized in designing, manufacturing, repairing and upgrading sea and river ships and owns assets worth 9.69 million euros, to be the property of Mangalia Shipyard SA all over the association duration.