SLOVAK COMPANY TO INVEST $50M IN MODERNISATION OF SISAK IRONWORKS

( Editorial: --> 5433 ) SISAK, Dec 2 (Hina) - Sisak Ironworks and Slovakia's Kosice Ironworks signed a letter of intent on Tuesday under which the Slovakian company would invest $50 million in the modernisation of steel production in Sisak Ironworks. Kosice Ironworks, a long-time supplier and one of the main foreign partners of the Croatian company, expressed a willingness to construct a new steelworks with a manufacturing capacity of 200,000 tonnes of steel tubes a year. In the next six months a joint team of experts would draw up a feasibility study, take all necessary steps for signing an investment agreement and create conditions for the construction of the steelworks. (hina) vm mm 021936 MET dec 97