Government Approves Loan for Split Airport Upgrade

Total Croatia News

ZAGREB, January 24, 2018 – The government on Wednesday gave Split Airport a go-ahead to take out an 300 million loan kuna for the reconstruction and upgrade of the passenger terminal, and granted a state guarantee to the Hrvatske Ceste (HC) road construction and maintenance company for a 45 million euro revolving loan for working capital financing.

Split Airport will borrow 300 million kuna (40.3 million euro) from the Croatian Bank for Reconstruction and Development (HBOR) without a state guarantee for the reconstruction and upgrade of the passenger terminal, a project worth 450 million kuna (60.5 million euro). The work should be finalised by the end of July 2019, and the terminal will be able to receive 3.5 million passengers annually.

Transport Minister Oleg Butković said that Split Airport had launched the investment project in 2016 and had invested about 65 million kuna (8.7 million euro) of its own money in it.

Hrvatske Ceste will borrow 40 million euro in kuna equivalent from Zagrebačka Banka and Privredna Banka Zagreb for more efficient liquidity management as the company is currently in the process of partial debt refinancing.


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