Croatia's new government kicks off offensive investment strategy.

By bne IntelliNews May 21, 2012
At this year's annual meeting of the EBRD, Croatia's deputy PM and economy minister Radimir Cacic presented the country's mid- and long-term investment strategy, defining it as a shift from defensive to offensive. He pointed out to the attracting of private investment and the development of projects off the public balance sheet as a major policy turn-around. The government has presented three major projects that are expected to draw investor interest: - Thermal power plant Plomin 3 - a strategically important project for the construction of a 500MWh thermal power plant that is expected to iron out the electricity consumption deficits in the country. Its forecast investment value is EUR 816mn. Croatias national electricity company HEP, the developer of the project, will call an international tender, seeking a strategic partner in the coming months. - The LNG terminal - a project that has been delayed for almost a decade. Due to Croatias geographical location, the terminal will meet the demand of the markets of Central and Western Europe, as well as the Western Balkans. It will have a maximum capacity of 4-6bcm/y. Works on the preparation of the feasibility study will commence in May and will take 12 months. - The multi-purpose project Zagreb on the river Sava - it envisages the construction of multi-purpose facilities on an area of over 1,000,000 square metres. The total estimated annual nominal benefit, excluding the value of the newly developed construction land, amounts to EUR 84.8mn per year for a period of 100 years. The proposed ways of funding the project include structural EU funds, international financial institutions, various forms of concessions or PPPs and a minimum participation of the public sector.

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