PRELIMINARY CONTRACT FOR "TUSTICA" PROJECT SIGNED IN ZADAR

ZADAR, Aug 10 (Hina) - A preliminary contract was signed in Zadar Tuesday. The contract concerns the "Tustica" tourist complex project. The contract was signed on behalf of the Croatian government by Zadar county prefect Sime Prtenjaca and Ante Martinac on behalf of the Sukosan municipal offices where the Tustica project is to be realised. Frank Campbell, the owner of the US company Campbell signed the contract as the investor. The preliminary contract on the main, determines the provisions of a final contract for what is to be the largest tourist project to be undertaken in Croatia. The investment is estimated to be valued at US$100 million. Today's ceremonial signing, considers Sime Prtenjaca is the semi- finals of this project. It will be forwarded to the Government for its approval and it is expected the final contract will be signed in the autumn. Prtenjaca advised that urban planning and issuing of building permits were forthcoming. He expressed hope that the Government would be elastic in this process offering favourable conditions. He reminded that the land at "Tustica" was to be granted free of charge in keeping with earlier government approval. The land is being granted free of charge on the condition that the US company realises the intended project of establishing a luxurious tourist company. Frank Campbell referred to today's signing as the first step which is to be followed by detail planning scheduled to be completed in six months. Campbell explained that the 300 hectares of "Tustica" will become an exclusive tourist resort with at least two golf courses, 400 hotel rooms, 400 luxurious villas, a marina and other facilities. The resort will employ 500 employees and even more during peak season. Campbell explained that he chose this particular spot to invest in because nowhere in the world had he found such untouched nature, clean seas and favourable climate. (hina) sp