Chinese investors plan to invest in Luka Zadar company.
The Assembly of Luka Zadar company should decide on a capital increase of HRK 45 million at a session scheduled for August 31st, reports Pomorac.net on August 29, 2017.
The investor is Luxury Real Estate company from Zagreb which will pay 225,000 shares at a nominal price of 200 kunas. The company already owns 23.13 percent of the shares in Zadar Port, and after the recapitalization, it will acquire a 76 percent stake.
The CEO of Luxury Real Estate is Zvonimir Zlopaša, and one of the founders of the company is Chinese investor Jinxiong Hu, who has already announced investments in Croatia such as a hotel in Krapinske Toplice and shown interest in investing in Agrokor.
In the next few years, as part of the first phase of investment, the company announced to put HRK 215 million in Luka Zadar, which would make this port a serious contender on the eastern Adriatic coast. After that, in the second phase, investments of EUR 200 million are expected to turn Luka Zadar into a modern port company.
“Chinese partners have recognized the port of Zadar and the Luka Zadar company because of its favourable strategic position. Goods travelling to Zadar Port would take eight days less than to the ports in northern Europe. More importantly, Chinese partners have recognized Zadar as part of an important Chinese project ‘One Belt, One Road’ [which aims to connect China to the world],” said Mario Rendeulić, president of CSEBA [Chinese Southeast European Business Association], who mediated in this business.
Over the past few years, the business of Luka Zadar has been bad, burdened by the high cost of concession fees, so a serious strategic investor is necessary to ensure the company’s survival. For their efforts and interest in Zadar Port, Chinese investors have received full support from the Zadar County and the City of Zadar.
Translated from Pomorac.net
