RIJEKA, Nov 24 (Hina) - A metalworkers union pointed to the +difficult situation in the Croatian shipbuilding industry at a +Tuesday press conference in Rijeka.+ According to the union, the situation in Croatian shipbuilding +industry
will be disastrous unless the state budget for 1999 +provides the industry with necessary funds.+ All large shipyards will bankrupt, thousands of workers would lose +their jobs, and the state would, according to undertaken +obligations, have to pay out US$300 million to foreign +corporations, said the shipbuilding board president of the +metalworkers union, Damir Bacinovic.+ He estimated that US$200 million were needed for the second phase of +the financial restructuring in the Croatian shipbuilding industry. +After such financial help is provided, Croatian shipyards could +remain open with a government subvention of 9.5 percent - which is +t
RIJEKA, Nov 24 (Hina) - A metalworkers union pointed to the
difficult situation in the Croatian shipbuilding industry at a
Tuesday press conference in Rijeka.
According to the union, the situation in Croatian shipbuilding
industry will be disastrous unless the state budget for 1999
provides the industry with necessary funds.
All large shipyards will bankrupt, thousands of workers would lose
their jobs, and the state would, according to undertaken
obligations, have to pay out US$300 million to foreign
corporations, said the shipbuilding board president of the
metalworkers union, Damir Bacinovic.
He estimated that US$200 million were needed for the second phase of
the financial restructuring in the Croatian shipbuilding industry.
After such financial help is provided, Croatian shipyards could
remain open with a government subvention of 9.5 percent - which is
the usual rate in competing shipbuilding countries across the
world, Bacinovic concluded.
(hina) it mm/ha