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Communist Dictator Zhivkov's Yacht Offered to Foreign Buyers

Date: 09.11.2006

Bulgaria will turn to potential foreign investors that would be interested in buying the yacht of Todor Zhivkov, who was toppled as Bulgaria's communist dictator in late 1989.

Bulgaria's State Administration Minister Nikolay Vassilev has turned for cooperation to the Economy Ministry asking his colleagues to send a letter to affluent foreign buyers who would like to possess the "Balkan" yacht.

The State Administration Ministry activities do not centre around running vessels and I turn to you with the offer to take part in an open tender for the "Balkan" yacht, Vassilev's letter says.

The "Balkan" yacht was made by Cantieri di Piza S.P.A. in 1982 for USD 2 M under the supervision of Loyds Register of Shipping. Zhivkov is believed to have taken rides in the yacht only twice.

The yacht is 27.60 m long and 6.80 m wide. The maximum wade is 8.18 and the register tonnage 113 register tons. The hull is made of wood.

At the moment the yacht is in a dry dock at the military base at "Atiya", close to seaside town of Burgas.

She will be able to sail again if the hull and all apparatuses and systems undergo thorough repairs. The interior fitting will also need to be replaced.

About a month ago the yacht was evaluated by a licensed expert to EUR 289,575 VAT excluded.

The open auction will take place not earlier than November. The exact date has not been fixed yet.

Bulgaria tried to sell the yacht several times at open bids but they all failed.

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