Government Supports Projects Important for Sisak County

On Thursday, the Croatian government endorsed a plan to build a highway linking Zagreb and Sisak, the restructuring and privatization of the Sisak Ironworks, the upgrading of the Sisak Oil Refinery and the reconstruction of the Sava River navigation route leading to Zagreb.

At a session held in Sisak the government decided to set aside HRK 450 million for the infrastructure projects in the Sisak-Moslavina County.

The government also accepted a proposal to acquire a share in the capital stock of the Kutina-based Petrokemija Company in return for its claims towards the company amounting to HRK 241 million, which would increase its share in the company to 67.81 percent.

The government turned down an offer by the German company Rohrwerk Maxhuette for the purchase of the Sisak Pipe Rolling Mill and will invite new bids for the privatization of that company, as well as of the Light Metal Factory (TLM) from Šibenik. In the repeated tender, the Rolling Mill's entire stock capital will be offered at a price amounting to 25 percent of the company's nominal value, its starting price being HRK 101.26 million. The starting price for 80.2 percent of the TLM's shares will be HRK 44.27 million or 10 percent of the nominal price.

Bids for the privatization of the Rolling Mill and the TLM were invited in early September, and the companies' shares were offered at their nominal value. No offers were made for the TLM, and the only offer for the Rolling Mill was submitted by the German company, but it was a non-binding one.

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