ZAGREB, September 5, 2019 – Economy Minister Darko Horvat said on Thursday the workers of the 3. Maj shipyard could get their first overdue salaries next week and that the dock’s management last night signed a 36.6-million-dollar contract to build a ship for Canada’s Algoma.
Speaking to the press ahead of a cabinet meeting, the minister said the payment of overdue salaries would be preceded by an agreement the dock and the Croatian Shipbuilding Corporation – Jadranbrod (HB-J) company were expected to sign early next week.
He recalled that a majority of creditors had agreed to the payment of 15% of their claims from a new loan taken by 3. Maj and to a two-year deferral for the remaining 85%, after which the Croatian Bank for Reconstruction and Development green-lighted the approval of 150 million kuna loan in line with a government decision to give the dock a conditional state guarantee.
For the process to be launched, HB-J, which will monitor the money transfer, and 3. Maj, which will receive the money, need to sign an agreement, Horvat said, adding that the payment of the said 15% was a prerequisite for unfreezing 3. Maj’s account, putting it back into operation and finding a strategic partner.
Asked if taxpayers would again pay for shipbuilding, he said they would not. “All the money we set aside for completing ships in (3. Maj) will be returned into the budget and the €5 billion we projected in revenue will stay in 3. Maj’s account.”
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