Croatian Post Takes 155 Million Kuna Credit for Most Important Investment

Lauren Simmonds

A big step for Hrvatska Pošta!

As Poslovni Dnevnik writes on the 27th of November, 2017, the new complex near Zagreb Airport is worth 345 million kuna and this money is for the completion of the very first stage of construction.

On Monday, Croatian Post (Hrvatska Pošta) along with the Croatian Bank for Reconstruction and Development (HBOR) and the Croatian Postal Bank (HPB) concluded a credit agreement with a 155 million kuna loan to be used for the most important investment in Croatian Post’s more recent history.

The contract was signed on Monday by HP CEO Ivan Čulo and head of HBOR and HPB Tamara Perko and Tomislav Vuić at the HPB headquarters. The loan will be used to complete the first phase of construction of a new sorting center that has been being built for six months close to the Zagreb’s record breaking Franjo Tudjman International Airport. In the first phase, which will take place over the next 18 months, the sorting center will be built on 32,000 square meters, and in the second phase, the construction of an administrative building will begin.

The total investment amounts to 345 million kuna, of which 188 million kuna is in place for the very first phase. As Ivan Čulo explained, HP secured some of the money from its own funds, with about 62 million kuna being invested in a new sorting system for letters, and those funds will be released in some ten days. Soon, the procurement of a parcel/packet sorting system will begin. Loan negotiations went on for several months, Čulo said.

“This loan is the result of the best conditions we could get on the market,” the chief of staff said. He added that the loan repayment term is ten years with a grace period of two years while the interest rate is 2.5 percent per annum.

HBOR’s Tamara Perko emphasised that the institution supports infrastructure projects which boost Croatia’s development.

“By realising this investment, HP will achieve significant savings with a high level of efficiency,” Perko stated. HPB’s man man Tomislav Vuić also believes that this is a significant loan for that bank, both because of the loan amount and the fact that it’s for HP.

“This contract brings us joy because of the importance of such large projects for our economy, because they enable others to work and, hopefully, they’ll increase employment,” concluded Vuić.


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