CSIC mulls investment in Uljanik Croatian shipyards

Chinese state-owned shipbuilding giant China Shipbuilding Industry Corporation (CSIC) has visited the two shipyards that are in near-bankruptcy under Uljanik in Croatia and is considering to provide financial support.

The two shipyards, Uljanik and 3. Maj, owned by the shipbuilder Uljanik, had been facing financial difficulties since last summer. The Croatian government was attempting to find the way to restructure the shipyards but has not been able to find an ideal solution as yet.

Croatian Prime Minister Andrej Plenkovic recently talked with Chinese Prime Minister Li Keqiang and Li assigned CSIC, one of the country's top shipbuilding industry players, to review the investment possibility. CSIC chairman Hu Wenming and a delegation of Chinese officials and professionals visited Croatia, and met with Plenkovic and Uljanik's management team.

After the shipyard visit, Hu said that we will consider the investment possibilities and provide our feedback later.

CSIC is set to make a decision on the investment in the coming ten days.

Posted 06 May 2019

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Katherine Si

China Correspondent

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