Seven potential investors have declared interest in Varna shipyard. State-owned Navigation Maritime Bulgare acquired the insolvent Varna Shipyard last year. Investors from Greece, Ukraine, Germany and Iran have toured the former shipyard last week. The investing partner will acquire 75%, 26% of which will be deposited in the Central Depository. The investor will lose its 26% if its revenues over the first three years do not exceed BGN 400,000 a year or a total of BGN 120 M. Thus the investor will become a minority shareholder. Hamburgische Landesbank is expected to release the first tranche of its USD 23.1 M loan this week. The negotiated loan will be used by Varna shipyard to complete the construction of two vessels - Trapezitsa and Dolly ship within six months