Romania’s Economy Minister Irineu Darău has declared that the country has secured a €920 million contract with the Special Access Fund for Energy (SAFE), explicitly linking the deal to the rescue of the Mangalia shipyard.
The minister stated that the previous operational model for the facility had failed, necessitating a new approach to save the strategic asset.
The announcement marks a significant pivot in the government’s handling of the shipyard’s crisis.
Earlier this year, German defense giant Rheinmetall opted out of the first bidding round for the acquisition, citing concerns over the asset’s valuation and the complexity of the restructuring.
That withdrawal left the future of the Black Sea facility in limbo and intensified pressure on Bucharest to find a viable solution.
The financial stakes for the local community are high.