ZAGREB, March 6 (Hina) - A bank gurantee which the Russian "Mechel" company sent is acceptable for the government as the collateral is payable, and the government will make a decision pertaining to the Sisak Ironworks privatisation at
its next session, Economy Minister Ljubo Jurcic said at the session of the Ivica Racan Cabinet on Thursday.
ZAGREB, March 6 (Hina) - A bank gurantee which the Russian "Mechel"
company sent is acceptable for the government as the collateral is
payable, and the government will make a decision pertaining to the
Sisak Ironworks privatisation at its next session, Economy
Minister Ljubo Jurcic said at the session of the Ivica Racan Cabinet
on Thursday. #L#
He announced the payment of late salaries for Janaury and February
at the beginning of next week, in line with agreement reached by the
trade unions and workers of the Sisak plant.
Minister reminded that on 13 February the government defined
conditions for the sale of the ironworks to the Russians. It
insisted that the contract should be governed by Croatian laws, and
in case of disputes that could not be peacefully solved, Croatian
laws would prevail. One of the conditions was that the orginal of
the contract be written in the Croatian language.
The government also asks of "Mechel" to ensure the full employment
of the irownworks' (1,700) workers over five years and to give the
bank guarntee which could cover the payment of wages for six months
if the Russians decide to pull out of the plant earlier than
agreed.
The Russian partner has issued the acceptable bank guarntee which
is payble, and provisions on the prevailance of laws and court
jurisdiction have been altered, Jurcic reiterated.
(hina) ms