The EUR 12 million project will be financed by a loan from the European Bank for Reconstruction and Development (EBRD).
The Split-based construction company, which won an international tender for this project, is expected to upgrade the quay of Vrulje by 2014 into a passenger terminal for mega-yachts and cruise ships.
The 135-long quay is to be extended to a total of 510 metres.
In 2004 the government declared the port of Sibenik to be of special economic interest for Croatia. Last year, it provided the port of Sibenik with state collateral for the EBRD loan.