Following setbacks to plans to buy two multifunctional modular patrol boats to modernise the Bulgarian Navy, the country's Ministry of Defence (MoD) is now studying options for restarting the project.
The shipbuilding project has been in limbo since December 2017, when local shipbuilder MTG Dolphin, the sole bidder and winner of the contract tender, decided to withdraw its proposal due to the reduction of the BGN680 million (USD427 million) project budget approved in 2016 as a result of the introduction of value-added tax on all defence procurement.
The budget earmarked for acquisition of the vessels is now insufficient for completing the acquisition, Defence Minister Krasimir Karakachanov said on 21 February.
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