CONSTRUCTION OF NEW ORAHOVICA CERAMICS INDUSTRY PLANT STARTS

ORAHOVICA, Feb 24 (Hina) - The construction of a new plant of the Orahovica Ceramics Industry (KIO), worth 7.5 million euros, is the first investment financed by the Croatian Bank for Reconstruction and Development (HBOR) and the Employment Fund. Finance Minister Mato Crkvenac, Employment Fund president Milan Stojanovic, and others attended a ceremony marking the beginning of construction works on Monday. #L# "The activities of KIO, which exports 80% of its products, should be applauded," said Crkvenac. The new plant will employ the current surplus of 15 workers and an additional 30 workers. KIO director Darko Krmpotic said the new plant would be constructed and equipped in six months. It will increase the factory's production capacity by as much as 30%, resulting in the annual manufacture of 5.5 million square metres of high quality tiles. The plant will use highly sophisticated technology, currently in use only by three factories in Europe. HBOR is providing 60% of the funds for construction, and the Employment Fund 40 percent. (hina) lml