DUBROVNIK COUNTY DECIDES TO ESTABLISH PREVLAKA PARK COMPANY

DUBROVNIK, July 28 (Hina) - The Dubrovnik County Assembly on Monday decided with a majority vote to establish a limited liability company called Prevlaka Park. #L# Prevlaka, the southernmost peninsula bordering on Montenegro, is defined as a protected area in which no further construction is planned. The existing facilities will be reconstructed and converted into 300 four-star holiday apartments before next summer. The assembly session was attended by Tourism Minister Pave Zupan- Ruskovic, who said that the owners of property on Prevlaka would be reimbursed in accordance with the objective value of their property. The Prevlaka Park company is owned by the Republic of Croatia, which has an equity capital of three million kuna and 51 percent of shares, Dubrovnik County, with 24 percent of shares, and the Municipality of Konavle, with 25 percent of shares. About 10 million euros will be invested in the new tourist complex. (hina) vm sb