Croatia's Viadukt to build EUR 54.2mn bulk cargo terminal in Ploce seaport.

By bne IntelliNews January 30, 2012
Croatian construction company Viadukt in a consortium with Spain's Cyes has won a contract to build a bulk cargo terminal in Croatia's southern Adriatic seaport of Ploce, news agency HINA reported, quoting the company as saying. The contract is worth HRK 406.5mn (EUR 54.2mn) without VAT, the report said. The investor is the Ploce port authority. The construction works should be completed within 26 months. The project will be financed by a loan, provided by the World Bank and the European Bank for Reconstruction and Development. The bulk cargo terminal will have capacity if 4.6 million tonnes. The project is part of a trade and transport integration project. Viadukt reported a net loss of HRK 57.4mn in the first half of 2011. The company's H1 consolidated revenue amounted to HRK 302.6mn, while the total expenses were HRK 360mn. Sales revenues reached to HRK 289.4mn. The company has said that it was facing difficult collection of claims and liquidity deterioration, which made it hard to settle liabilities to vendors.

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