The Croatian government at its session on Thursday accepted the proposal of the Uljanik dock from the northern Adriatic town of Pula for the purchase of the 3. Maj shipyard from Rijeka under special conditions.
Uljanik will thus purchase for the price of one kuna, a total of 1,051,540 shares of the 3. Maj dock, which represents 83.36% of the dock's stock capital.
After the purchase, the 3. Maj shipyard is expected to undergo an overhaul in which the government plans to invest HRK 847 million and Uljanik another HRK 842 million with a corporate guarantee amounting to HRK 75 million.
The government at its session today also took note of the information about activities taken so far and aimed at privatising the Rijeka-based dock and gave its consent to amendments to the restructuring plan. The European Commission is expected to give its permission in the coming weeks and the contract is expected to be signed accordingly.
Prime Minister Zoran Milanovic said the easier part of the job was now done and that the harder part, namely building ships and improving competitiveness, was now to follow.
Given that 3 Maj, unlike the Brodosplit and Brodotrogir shipyards, was being purchased by another shipyard, the European Commission wanted to prevent the state budgetary funds carry-over from 3. Maj to Uljanik. Economy Minister Ivan Vrdoljak said that the government and the European Commission agreed that independent experts should supervise the restructuring of 3. Maj and that the government would pay their fee.
