CROATIA'S OIL COMPANY INA TO ENTER INTERNATIONAL CAPITAL MARKET

ZAGREB, March 12 (Hina) - The Croatian oil company INA said on Wednesday it was negotiating a five-year loan of US$ 100 million with a US bank. "INA will for the first time enter the international market without guarantees from Croatian banks or the Croatian government. If we manage to get that loan, it will mean that the international financial market has accepted the new INA and the clear policy of the Croatian government," INA director general Andrija Kojakovic told a news conference in Zagreb. Asked about the results of restructuring, Kojakovic said that since the beginning of this year INA had been operating as "an integrated oil company" whose plan was to launch its shares on the London Stock Exchange. Kojakovic said that the company's main business activities included research, oil and natural gas refining, and marketing. Executive director Franjo Sodan said that INA would invest about $100 million for the reconstruction of three refineries in the next five years. (hina) vm mm 121641 MET mar 97