Croatian government authorizes road firm Hrvatske Ceste to take EUR 100mn loan.

By bne IntelliNews March 1, 2012
Croatia's government has decided to give its approval to road operator Hrvatske Ceste to withdraw a EUR 100mn loan, news agency HINA reported. The company needs the loan to repay its loan obligations in the first quarter of 2012, the report said. The loan requires government collateral. We note that Hrvatske Ceste and Austrian builder Strabag have signed a deal to build a EUR 20.9mn bridge between Bosnia and Croatia, whose construction will be 50/50 financed by the two countries. The bridge will stretch 640 metres over the Sava river, which forms Bosnia's northern border with Croatia, the Bosnian transport ministry said last month. The bridge will be 29 metres wide and should be completed within two years. It will lie on the Corridor Vc, which is one of the three major pan-European corridors in the region. It runs from the Hungarian capital Budapest through Croatia, Bosnia and ends again in Croatia, at its Adriatic town and major seaport of Ploce.

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