Romania races to secure EUR 1 bln Rheinmetall deal to pull Mangalia shipyard out of bankruptcy Romania is pushing to finalise a near EUR 1 billion contract with German defence group Rheinmetall by May 31, in what officials openly frame as a last-minute opportunity to revive the bankrupt Mangalia shipyard, Ziarul Financiar reported on April 30. Economy minister Ambrozie-Irineu Darău said the probability of the deal collapsing is “only 1%”, underscoring both the urgency and the high stakes surrounding the project. The contract, financed under the EU-backed SAFE defence programme, envisages the construction of four military vessels, with Romanian authorities insisting that production should take place domestically, preferably at the Mangalia facility on the Black Sea.