Romania: Daewoo Mangalia Shipyard Wins Contract for Construction of Four Ships

Daewoo Mangalia shipyard in Romania will build four ships for the Israeli Ofer Global Holdings group, under a contract of EUR 400 million, with the additional option of a further four ships. The ship construction will be completed by the end of 2013.

“The order released to Daewoo Mangalia shipyard is only part of the investment of USD 2.4 billion operated by Ofer in the Central and Eastern Europe, the first firm order of this size in the last three years”, Ofer Global Holdings said in a press release.

Starting with 1997, Daewoo Mangalia Heavy Industries is a joint venture between shipbuilding company Daewoo Shipbuilding & Marine Engineering in Korea and 2 Mai Mangalia Shipyard in Romania. Ofer Global Holdings group is active in international shipping and real estate.

By Irina Popescu (Romania-Insider)

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Source: Romania-Insider, May 23, 2011; Image: DMHI