The latest version of the restructuring plan for the Uljanik Group shipbuilding company involves for the first time the option for the Rijeka-based 3. Maj shipyard to be separated from the group to become an independent company again, Economy Minister Darko Horvat said on Tuesday.

His comment came in Rijeka after his meeting with local authorities, the managers of the two docks, and workers’ representatives. The latest version of the plan for the restructuring of the Uljanik Group – which owns the Pula-based Uljanik and Rijeka-based 3. Maj shipyards – will be considered by the ministries of economy and finance on Wednesday.

“We will make a brief analysis, and if necessary, hammer out the document together with the management who drew up the document, as well as with strategic partners and consultants. After aligning the plan with the questions made by the European Commission, we will forward it to Brussels,” Horvat said.

“After that we will ask our colleagues at the European Commission’s Directorate General for Competition to approve the restructuring plan as soon as possible,” Horvat added.

Asked about the possibility of the indebted group going into official receivership, Horvat said he would be the last person to support that option, and added that the government would do all it can to stave that off.

Asked to comment on the payment of wages for September, the minister admitted it was still not clear how and whether funds would be secured for that purpose.

The last two salaries for July and August that some 4,200 workers at the two docks received were funded by re-programming an earlier loan issued to the company by the state-owned HPB bank. Their September wages are due to be paid by October 15.

Asked whether businessman Danko Koncar, who owns the smaller Brodotrogir shipyard, and had been selected to partner up with Uljanik earlier this year – would stay on as a strategic partner, Horvat said that the question should be put to the Uljanik management board because he was selected by them, and only they can replace him.

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