CRO RAILWAY SUPERVISORY COMMITTEE HOLDS SESSION ABOARD TRAIN

VINKOVCI, Oct 10 (Hina) - The Croatian Railways Supervisory Committee on Wednesday held a session aboard a train travelling between Zagreb and Vinkovci. The session was also attended by HZ management board members and union representatives. The HZ is interested in reconstructing the Vinkovci-Osijek line, which was severely damaged in the war. The state is willing to invest 70 million kuna (USD 8.53 million) in its reconstruction while the costs of maintaining the line viable will be covered by the HZ and units of local self-government, it was said at a news conference in Vinkovci. In the next two to three months, the HZ will suggest to the government and parliament all relevant decisions which need to be made so that the railway could become more competitive, Supervisory Committee chairman and Deputy Prime Minister Slavko Linic said. Considering the huge losses the HZ has suffered, the Supervisory Committee intends to offer part of the HZ property which is no longer in use for the company's financial consolidation and further investments. HZ management board president Marijan Drempetic said the company had surplus electrical engines, warehouses, railway stations, business facilities, exceptionally attractive building sites and property such as hotels and resorts, which are not its primary activity. The book value of all HZ assets is eight billion kuna (close to one billion US dollars), Drempetic said, adding this was below the actual value of the property. The HZ is willing to make this property available to units of local self-government, towns, municipalities, the government, the state and other interested subjects with the aim of its own consolidation and modernisation, Drempetic said. (hina) sb rml