At the closed part of its session on Thursday, the Croatian government was informed by the Finance Ministry of details of an offer from the Geneva-based United Energy Commodities company interested in investing in the restructuring of Croatian low density polyethylene producer DINA-Petrokemija and the Adriaoil daughter company from the Dioki Group, as well as of the request for issuing a guarantee in the amount of EUR5 million.
The Management Board of the Croatian polymer producer Dioki informed the Finance Ministry of the Swiss company offer to purchase DINA-Petrokemija in Omisalj on 18 July. The Swiss company offered to invest in financial restructuring, production launching and the preservation of 320 jobs.
United Energy Commodities is prepared to invest EUR20 million so that it could become a majority owner of DINA-Petrokemija and Adriaoil from Milan
The investor is also prepared to pay EUR5 million in advance which, following the issuance of Finance Ministry guarantees, will be used pay out salaries to Dioki and DINA-Petrokemija workers.
The remaining EUR15 million would be used for the purchase of raw materials and launching the production in DINA-Petrokemija, planned for 1 September 2012.
The Finance Ministry agreed to issue the guarantees.
