ZAGREB, Dec 15 (Hina) - "Nasicecement d.d.", Croatia's second-largest company for the production of cement, from the eastern town of Nasice, and the European Bank for Reconstruction and Development (EBRD) signed an agreement on a
EUR20-million loan in Zagreb on Friday.
ZAGREB, Dec 15 (Hina) - "Nasicecement d.d.", Croatia's second-
largest company for the production of cement, from the eastern town
of Nasice, and the European Bank for Reconstruction and Development
(EBRD) signed an agreement on a EUR20-million loan in Zagreb on
Friday. #L#
The agreement was signed by Nasicecement d.d. director Ivan Ergovic
and EBRD director for central Europe Alain Pilloux.
The company will use the loan to switch from gas to coal as the main
propellant in the cement furnace, with the aim of reducing
operation costs. The loan will also be used for the financing of
possible acquisitions in related branches in the region.
With this loan the EBRD continues providing assistance to well-
managed and ambitious Croatian companies, particularly those which
intend to extend their business activities outside Croatia,
Pilloux said. The project will also be financed with an additional
five million euros by a Croatian bank, to be selected
subsequently.
Congratulating the company's representatives, Vice Premier Slavko
Linic said this loan and another one, recently granted to the
Agrokor food concern, proved that 2001 should be a much easier year
for Croatia's economy.
(hina) rml