Government Decides to Get Involved in Unblocking 3. Maj Shipyard’s Account

Total Croatia News

ZAGREB, August 1, 2019 – The government decided at its meeting on Thursday to get involved in the process of unblocking the account of Rijeka’s 3. Maj shipyard, relaunching production and completing the vessels on which work had begun.

The Croatian shipbuilding corporation Jadranbrod was instructed to thoroughly analyse the proposed measures and submit its findings to the Ministry of Economy, Entrepreneurship and Crafts. The ministry will then propose specific measures based on the laws on the budget, state grants and other regulations and will present them to the ministries of finance and justice.

After the harmonisation of the proposed measures, the authorities in charge are required to submit a proposal for the implementation of today’s conclusions to the government by August 29.

The 3. Maj shipyard completed the process of restructuring in late 2017, but found itself in financial trouble as a member of the Uljanik Group.

“3. Maj, unlike Uljanik, is not overindebted, and had it not granted those loans to Uljanik it would have been operating normally because both the present and potential buyers have expressed an interest in completing the ships, and there is also an interest in building new ones,” Prime Minister Andrej Plenković said.

He said he expected the 3. Maj shipyard to draw up a firm action plan to ensure its operation in the years to come.

More news about Croatia shipbuilding can be found in the Business section.


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