Bulgaria will call another tender for the production assets of insolvent Bulgarian steel mill Kremikovtzi on February 7, the plant's administrator Tsvetan Bankov said as quoted by Dnevnik.

The struggling steelmaker will be put for sale at an indicative bidding price of BGN 395 million, 31% lower than the call price in the first auction, held on September 13.

The previous two auctions for the mill's production capacities, held in September and November, fell through as no bidders showed up, most likely due to the high asking price.

The lowered cost could be attributed to the lack of maintenance for the capacities, since Kremikovtzi's manufacturing site and all the equipment linked to its production process, which is the largest lot of assets to be placed for sale at the tender, are the largest and most important ones to the ailing steel behemoth.