New transport minister against monetising motorways' debt

New Maritime Affairs, Transport and Infrastructure Minister Oleg Butkovic said on Monday, taking office from Sinisa Hajdas Doncic, that he was against monetising the debt of the motorways and that the debts would be handled through rescheduling and company restructuring.

"I'm absolutely against monetisation. We will restructure the companies and reschedule the existing liabilities, improving the companies and their functioning," Butkovic told reporters. "Firstly, we must see the state of affairs in the sector, not just in road transport but in all other sectors."

Asked how much the Hrvatske Autoceste (HAC) motorway operator must pay in debt this year, Butkovic said "about 400 million euros," reiterating that part would be handled through rescheduling and part through restructuring.

Hajdas Doncic said he was leaving the ministry without unpaid bills and with several major infrastructure projects agreed, such as Zadar Airport, entry into the Ploce seaport, and the Trogir and Peljesac bridges.

He said his successor would have most trouble with HAC and the HZ Cargo and HZ Passenger Transport rail companies. As for HAC's debt, he recalled that the previous government approved at one of its last sessions borrowing EUR 200 million to refinance HAC's liabilities. He said this loan was tied to either the privatisation or initial public offering of HAC ONC road toll company shares.

"Every minister has his idea as to how to service the debt. I leave it up to the new minister to perhaps find a second or third option," Hajdas Doncic said.

Last update: Thu, 23/06/2016 - 19:22
Author: 

More from Croatia

Stier: Cyber-attack may have come from east, unrelated to PM's Ukraine visit

Foreign Minister Davor Ivo Stier said on Saturday that no strategic piece of information was compromised in a cyber-...

Subspace hostel with space pods opens in Zagreb

As of December 1, Zagreb has a new tourist attraction, the futuristic Subspace hostel, the first in the European...

Remaining Kiowa Warrior helicopters for Croatian army delivered

Eleven OH-58D Kiowa Warrior military helicopters were delivered to the Croatian Air Force base in Zemunik on...

Croatia needs change and SDP must start it, says opposition leader

Newly elected Social Democratic Party (SDP) president Davor Bernardic said in Zagreb on Saturday that Croatia needed...

Minister says buying controlling interest in INA worth the challenge

State property Minister Goran Maric said in an interview with the Jutarnji List daily on Saturday that the INA oil...