Economy Minister Darko Horvat said on Wednesday that the first, unofficial, reply from the European Commission on whether Brussels would approve the proposed restructuring plan for the troubled Uljanik shipyard was expected on Friday, and that the government might spend up to €352 million on the plan.

“I expect to receive the first, unofficial, reaction from Brussels to the restructuring plan as early as Friday, September 7, when the EU Commissioner for Competition (Margrethe Vestager) is arriving for a visit. We will wait to see what she will say, after which we will be able to plan the government response to the restructuring plan,” Horvat told state radio on Wednesday.

EU Commissioner for Competition Margrethe Vestager is scheduled to make a working visit to Croatia on Friday, and the restructuring plan for the troubled Uljanik shipyard is expected to be among the topics of her meetings with Croatian officials.

Horvat added that the restructuring plan for Uljanik had been sent to Brussels on July 13 “through informal channels”. He added that intensive work was now under way to find a long-term, viable, model for the company to survive.

He said that the makers of the restructuring plan envisioned that once Brussels decided that the proposed plan was not in violation of EU rules on competition and state aid, the government’s share of cost of the restructuring would be 60 percent, and the share of Uljanik and its strategic partner 40 percent.

“Of the total €584 million cost of the planned restructuring, and for completing the construction of ships on order, the government’s share should be €352 million,” Horvat said.

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