Reconstruction of Croatian ports by 2008
Lider business weekly
Jan 13, 2006.
By 2008, Croatian passenger and cargo sea ports will invest approximately EUR 540 million in reconstruction. The moneys will be sourced from the World Bank and EBRD loans, the central government budget and the concessionaires of the six largest ports. Modernization of the Port of Rijeka is considered to be the key project and will cost an estimated USD 264 million, of which USD 156.5 million will come from the World Bank loan. The Port of Ploce will invest approximately EUR 82 million, while the Port of Dubrovnik plans to invest a total of EUR 33.7 million to increase its mooring capacities for large cruisers. Split, Sibenik and Zadar will also reconstruct its port facilities: Split will invest EUR 6.5 million to upgrade its ferry terminal, while Zadar will reconstruct its docks and the infrastructure for EUR 75 million.
Zagreb Airport postpones privatization; raises further loans
Lider business weekly
Jan 13, 2006.
While the Croatian Government continues to postpone the decision regarding financing of the Zagreb Airport's new terminal construction, the management of the Airport is certain that they should manage the project, meaning there will be no concessions, and the Airport will raise new debt from the commercial banks. However, the Airport believes that in case it should fail to repay its debts, the owners (Government of Croatia - 55 %, City of Zagreb - 35%, City of Velika Gorica - 5% and Zagreb County - 5%) should re-capitalize the company. Although Zagreb Airport records double-digit percentage annual increases in passenger traffic, it seems that the Croatian Government has firmly decided not to support the Airport from the central budget. In the meanwhile, Dubrovnik and Split in Croatia and Ljubljana (Slovenia), Belgrade (Serbia and Montenegro) and Bratislava (Slovakia) have already initiated their investment and/or privatization programs. Zagreb airport recorded approximately 1.5 million passengers in 2005, while Dubrovnik is catching up with 1.1 million passengers and an expected 20 percent annual increase for 2006.