MORE THAN US$ 500 M TO BE INVESTED IN CROATIAN RAILWAYS

( Editorial: --> 4006 ) ZAGREB, Feb 23 (Hina) - Croatian Railway's (HZ) business plan for the next five years foresees investments totalling US$506 million, of which US$207 million is planned for investment in rolling stock, while US$299 million is intended for infrastructure, said Croatian Railways director Marijan Klaric. According to Klaric long term credit for about DM100 million needs to be urgently secured for improving the situation so that conditions can be created in the next two to three years for the realisation of the main objective - modernisation and restructuring of Croatian Railways. Klaric believes that 1998 and 1999 will be key years for the future of Croatian Railways because they will see great changes in work procedures and business. He announced the privatisation of some companies in the Croatian Railways structure, including the railway carriage factory. The restructuring program of Croatian Railways estimates that freight of goods will increase from last year's 12.15 million tonnes to 20.97 million tonnes by the year 2000. Productivity increase is estimated at 19.2 per cent annually. The number of employees will be reduced to 16,000 workers by 2002. (hina) as mrb 231440 MET feb 98