Conditional Guarantee for 3. Maj Shipyard Approved

Total Croatia News

ZAGREB, August 22, 2019 – The Croatian government on Thursday decided to allow the issuance of a conditional payment guarantee in the amount of 150 million kuna to the Rijeka-based 3.Maj shipyard.

Prime Minister Andrej Plenković said that finance-wise it meant that the guarantee would not cause additional costs for the government and it will make it possible for the dock to complete the ships under construction.

The future of that shipyard also creates, to some extent, prospects for Uljanik to continue doing business, Plenković said at the government’s meeting.

The intention of this government is to find a strategic partner for 3. Maj, he reiterated.

Plenković recalled that in early August he visited the dock in Rijeka and that he had been informed by the dock’s management about the current state of affairs and the future plans. On that occasion the premier said that all what he heard during the talks was encouraging. “Our engagement is intended to help solve the urgent problems now, and in two years’ time how long the completion of the ships will take, the survival of shipbuilding in 3.Maj should be enabled, with a strategic partner being found,” Plenković said then.

Coming to today’s meeting of the cabinet, Economy Minister Darko Horvat said that the purpose of the issuance of the conditional guarantee to the 3.Maj dock would be to help the company to deliver the ships under construction in a timely fashion.

He also said that there were investors who showed interested in the Rijeka-based company.

The finance ministry is due to issue the conditional guarantee only if the necessary conditions are met for that move until 5 September.

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


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