CRO POWER INDUSTRY SIGNS AGREEMENT ON POWER PLANT WITH U.S. FIRM

DUBROVNIK, June 23 (Hina) - Representatives of United States company "Enron" and Croatia's power supply company "Hrvatska Elektroprivreda" (HEP) signed in southern Croatian port Dubrovnik on Wednesday an agreement on the building and use of gas thermal power plant Jertovec, which will be built north of Zagreb. The US$700 million invested into the building will be the biggest foreign investment in Croatia to date. The plant is to be built in 22 months, while the financial scheme is to be drawn in 18 months. The agreement was signed by HEP managing director Damir Begovic and "Enron's" executive director Joseph Sutton. Those present at the signing were welcomed by the Croatian President's advisor for internal politics Ivic Pasalic, who said the signing of the agreement was a strong impetus and clear sign that Croatia was a stable and secure country. "Enron's" Sutton said the Jertovec project was the beginning of the company's long-term business in Croatia. He recalled talks on the project began during a visit late U.S. secretary of commerce Ron Brown made to Croatia. Brown was killed in a plane crash near Dubrovnik in 1996. Today's agreement was signed in Brown's memorial room. In attendance were Croatian Economy Minister Nenad Porges, "Enron's" advisor Zdenka Gast, and Croatia's Ambassador to the U.S. Miomir Zuzul. (hina) ha jn