ZAGREB, April 5 (Hina) - Croatian government representatives recently spoke with representatives of the Austrian-Russian Trubo Impex group, the new owner of the Sisak Ironworks. The talks related to possible supplies of raw material
for the ironworks as compensation for Russia's clearing debt to Croatia, government sources reported Friday.
ZAGREB, April 5 (Hina) - Croatian government representatives
recently spoke with representatives of the Austrian-Russian Trubo
Impex group, the new owner of the Sisak Ironworks. The talks related
to possible supplies of raw material for the ironworks as
compensation for Russia's clearing debt to Croatia, government
sources reported Friday.#L#
The exact amount of the Russian debt to Croatia still has not been
determined but the government estimates that it could amount to
anywhere between 200 and 500million US dollars.
Government sources believe that Russia's entire clearing debt to
Croatia could be settled through an arrangement with the Russian
owner of the Sisak ironworks.
The international investment group headed by an Austrian-Russian
company, Trubo Impex from Vienna, took over ownership of the
ironworks in mid-January of this year and the ironworks were
renamed to "Zeljezara Sisak - Nova d.o.o."
Trubo Impex purchased the bankrupt ironworks for one kuna and paid
an amount of EUR5 million for working capital and stocks that they
came across. Some two and a half million euros will be invested to
reconstruct the plant. Complete upgrading of the ironworks will be
conducted over the next two years and some seven and a half million
EUR will be invested for this task.
(hina) sp sb