EBRD APPROVES 12.5-MILLION-EURO LOAN TO CROATIAN GLASS PLANT

ZAGREB, Sept 27 (Hina) - A Croatian firm "Vetropack Straza" in the northern town of Hum na Sutli and the European Bank for Reconstruction and Development (EBRD) on Thursday signed a contract on a loan of 12.5 million euro to be granted to this company for the enlargement of its manufacturing capacity. The means from the loan will be used for the reconstruction of a furnace for white glass. According to the plans of the management of this only Croatian glass packing factory, the renovated furnace will begin operating next May and this will enlarge the production of white-glass bottles. The EBRD Agrobusiness team's head, Hans Christian Jacobsen, assessed that the financing of this project would have a positive impact on the economy of the entire area. The Vetropack Straza chief executive, Dragutin Spiljak, said the new technology would enhance the quality of the plant's products, reduce the emission of poison gasses, cut the spending of power and improve the conditions of the work. Vetropack Straza is part of the Swiss Vetropack company which has its glass plants in the Czech Republic, Austria and Switzerland. This investment in Croatia is envisaged by Vetropack's strategy for its expansion on markets on south-east European countries. The Croatian plant produces over 130,000 tonnes of glass a year. (hina) ms