Already registered? Download PDF LOGIN or SIGN UP
Editor in chief: Angelo Scorza
15/04/19 12:05

Uljanik might be rescued by Chinese investors

The accord sealed last February with Brodosplit (in partnership with Fincantieri) was rejected, Croatia Government is allegedly interested in a cooperation with CSIC group

As ordered by Croatia Government, preliminary accord sealed between Uljanik and Brodosplit (in partnership with Fincantieri) for rescuing Pula-based group, whose former management was recently arrested, has been cancelled.

“The Government can't support the company due to heavy financial risks not backed by adequate guarantees” stated Prime Minister Andrej Plenkovic last March.

The Croatian tax agency should support far too high costs for restructuring the group, namely ranging from 1 to 1.5 million Euro, to be paid in 3-4 years: “That's a huge risk for the Government and an extremely high cost for Croatian tax payers, which can't get any aid from the government”, illustrated the premier while submitting further solutions to rescue the country's shipbuilding industry, also envisaging to start a bankruptcy procedure.

A Far Eastern partner might rescue Uljanik yard (controlling namesake installation, also known as Scoglio Olivi, as well as Rjeka 3Maj yard).

A Chinese interest was confirmed during Li Keqiang's visit in Croatia, who already negotiated a variety of mutual cooperation between the two countries, from the construction of a new stadium in Rjeka to a railway line from the port to Zagreb.

Local media announced CSIC (China Shipbuilding Industry Corporation), might be the involved investor.

Darko Hrovat, Ministry of Economics and Finance stated that negotiations have just started while the 16+1 summit in Dubrovnik announced that Chinese shipbuilding yards will shortly reach Pula to thoroughly evaluate the subject.

Should the deal be sealed, not only the Chinese Corporation would land in Europe, they would also debut in the cruise sector.


TAG : Shipyards