Economy Minister Announces Strategic Investment Legislation; Croatia Electra to Purchase LNG Property

Minister of Economy Ivan Vrdoljak (HNS), announced that the Croatia Electra (HEP) will send an offer to the Turkish investor Cuf, owners of the property on the island of Krk and location of the future LNG terminal.  This decision is significant towards the government’s plans for the realisation of the LNG project.  Vrdoljak also announced the government’s plans to propose for ratification legislation on strategic investments, which is scheduled to be proposed by the government by the end of the year.  The legislation intends to expedite the realisation of strategic national investments and projects.  One of the critical conditions to qualify as a national strategic investment is that the value of industrial production projects is a minimum of €20 million and €50 million in tourism.

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