The Croatian government decided on Wednesday to invite bids for Vukovar river port operator Luka Vukovar.
The government is selling its 100% stake in the company, nominally worth HRK 38.07 million. The deadline for the submission of a letter of intent is 30 days from the publication of the call for expression of interest.
The port mainly serves businesses from Croatia and northern Bosnia and Herzegovina. Given the economic stagnation, it is facing a fall in business activity.
Last year Luka Vukovar generated an income of HRK 13.5 million and a profit of HRK 264,800, as against an income of HRK 16 million in 2012 and HRK 14.7 million in 2011.
In order to increase its workload and capacity utilisation, the port needs a partner to bring additional cargo to Vukovar, the government said in its decision.