3rd of May shipyard (Illustration photo: PIXSELL) 3rd of May shipyard (Illustration photo: PIXSELL)

Explaining the proposed government decision Economy Minister Darko Horvat said that the budget has been damaged due to protested and paid state guarantees to the Uljanik group amounting to more than four billion kuna.

“This decision proposes the provision of state guarantees for the 3rd of May shipyard company to acquire a loan at the Croatian Bank for Reconstruction and Development, or other banks, in order to create the preconditions for the initiation of production and completion of ships already begun amounting up to 150 million kuna, with an aim to reduce existing losses for the Republic of Croatia,” said Horvat.

Prime Minister Andrej Plenković added that he believes the decision adopted today is extremely important and calculated. Meanwhile the Economy Ministry will sign a contract with the Jadranbrod Company for oversight and control of continuation and completion of ships already begun at the 3rd of May shipyard.

Source: HRT