Mechel's answer is expected by September 7, Vukelic said, adding that if the Russian company agreed to the terms the contract could be terminated by the end of next week.
To walk out of the ironworks Mechel should pay salaries for August, return the ironworks' property, pay the liquidation costs, which are estimated at EUR5.4 million, and activate a EUR3.6 million guarantee, Vukelic said.
He spoke to reporters after a meeting at his ministry between representatives of Mechel, the Croatian Metal Workers Trade Union, the Croatian Privatisation Fund, and the town of Sisak.
Reporters were told that both sides wanted an agreement on the purchase contract termination to be reached as quickly as possible.
Vukelic said the Croatian side did not agree to tapping the guarantee money for the salaries for August, as wished by Mechel, whose representatives believe returning the ironworks' property and activating the guarantee should be enough to walk out of the factory.
Vukelic said the government set up a commission which should examine how to use land in the ironworks for entrepreneurial purposes.
The minister added the government was already looking for new solutions for the ironworks, including the possibility of setting up a new company, to be owned by the Croatian Privatisation Fund, through which employees would receive their salaries. The Fund is already looking for new partners, he said.