Wednesday, 15 March 2023

Brtonigla San Rocco Hotel Raising Luxury and Sustainability Levels

March the 15th, 2023 - The small, family-run Brtonigla San Rocco hotel is set to raise its level of luxury with a reconstruction process after twenty long years of being in operation.

As Marija Crnjak/Poslovni Dnevnik writes, it isn't just the level of luxury that the heritage Brtonigla San Rocco hotel is raising, it's also making sure it is ticking the increasingly important box of sustainability by introducing green technologies and digital solutions.

To be more specific, the Brtonigla San Rocco hotel is one of the many small hotels that responded to the recently completed and published tender for money from the National Recovery and Resilience Programme (Croatian: NPOO). This was confirmed by Tullio Fernetich, the owner of this exclusive tourist facility in beautiful Istria, who believes that his project meets all the criteria from the tender.

Business adjustments

"Owing to its specific criteria, this tender fully coincided with our previous way of working as well as the idea for renovation that will bring us more added value through green and digital solutions. After twenty whole years on the market, it's now time to additionally try to adapt to today's business conditions and modern market requirements, as well as to mitigate the impact of current not so favourable circumstances related to energy prices. Our project includes the introduction of sustainable solutions across all segments of business while raising our standards that will enable us to generate higher incomes and extend the tourist season," Fernetich explained.

The Brtonigla San Rocco hotel project is worth 1.5 million euros in total and doesn't envisage the expansion of the existing capacity of fourteen rooms, instead, it's aiming for renovation and the introduction of new technologies. It includes the replacement of all appliances that consume too much energy in the hotel and restaurant, a new heating and cooling system with solar panels and heating pumps, the introduction of smart room systems and the elimination of fossil fuels.

The works will start after this summer season ends and everything should be finished by the time the 2024 summer season rolls around. The owner of the hotel employs around 25 people throughout the year, and the San Rocco hotel is one of the thirteen complexes from within the Association of Small Family Hotels (OMH) that holds the Eco green certificate that the association introduced about a year ago.

Family and small hotels are most often located in less developed destinations, and as many as a quarter of them are in the continental part of Croatia. Very often, they're open throughout the entire year, and their offer emphasises authentic, local and healthy products, and preserves heritage and the entire space as a resource.

Sime Klaric, the president of OMH, revealed that fifteen more hotels are about to be certified, and he is convinced that this number will increase dramatically after the implementation of numerous investment projects from the NPOO.

"We don't have the exact figures on how many small hotels applied for the tender, but if we know that the vast majority of applicants are small and medium-sized companies, it's precisely this segment of tourism that is traditionally oriented towards green business. There's already a lot of investment going on, and all those who failed to prepare projects for this tender will have the opportunity to do so with the new financial instruments that are set to follow,'' explained Klaric.

The next step of the association is towards the Energy Efficiency Fund with the aim of introducing a special favourable line for the introduction of alternative energy sources. These are investments whose amounts are even lower than those foreseen in the NPOO, and the need for such adjustments in the sector is great, as they guarantee great savings in the future.

According to Klaric, although the coming season will bring a lot of optimism with it, they're finally returning to and even exceeding the numbers from before the global coronavirus pandemic, and behind these hotels lie a few very lean years indeed.

For more, make sure to check out our dedicated news section.

Tuesday, 14 March 2023

Croatia Fails to Qualify for Water Polo World Cup Final Tournament in Los Angeles

March 14, 2023 - After winning the 2022 European Championship in Split last September, Croatia did not advance to the Water Polo World Cup final tournament in California at the end of June. 

The Croatia men's water polo players will not go to California in June for the World Cup final tournament. In the match that decided the second trip to the Super Final, Hungary beat Croatia 13:10 and thus secured their trip to Los Angeles. Italy and the USA also qualified from Croatia's group. 

Croatia was not good from the beginning. Hungary led throughout the game, from 0:2 to 1:5 at the beginning of the second quarter. It didn't help that the Hungarian left winger Gergo Zalanki had a perfect evening, scoring 7 goals from 9 attempts. He went on to win the "Player of the Match" award.

There were other aggravating circumstances, like the early dismissal of Kharkov due to three personal fouls. This significantly weakened Croatia. 

Nevertheless, Croatia did not give up in front of a sold-out Zagreb crowd, even when Hungary took a 10:6 lead a minute before the end of the third quarter. Moreover, with four consecutive goals (Lazić, Burić, Vrlić, and Bašić) Croatia equalized at 10:10, exactly 3 minutes and 17 seconds before the end.

However, Hungary reached 12:10 in one minute through Vigvari and Zalanki, and the last goal for the final 13:10 was scored by Manhercz just 21 seconds before the end, on an empty net. That was no longer so important because goalkeeper Popadić, who replaced Bijač in the last quarter, logically went on the attack.

"We lost the match because we opened it badly. Especially in the attack. We conceded only three goals from the first 10 extra man plays. We were throwing blocks, unprepared, limp. We didn't go in as hard as I expected and what I was looking for. Then, during the whole match, we spent a lot of time. What I have to congratulate the guys on is the character they showed. They expressed their desire, equalized, and then in the end we obviously can't move forward. We were confused offensively, and Zalanki, who only arrive on Sunday, killed us. He obviously benefited from the rest," said coach Ivica Tucak. 

"We didn't even start the game well, and we were already losing 5:1. Again, we showed character, and got back to 10:10, but then... A little deconcentration or fatigue because we spent a lot of effort to equalize, which then cost us by conceding a goal or two too easily," added Marko Žuvela. 

Source: HVS

To follow the latest sports news in Croatia, follow TCN's dedicated page.

Tuesday, 14 March 2023

Politician Marko Boras Mandic Compares Croatian & Italian Toilet Roll Price

March the 14th, 2023 - Marko Boras Mandic, the President of Primorje-Gorski Kotar County's Assembly, took to social media with a very clear post titled ''Look how robbing us!'' in reference to no less than toilet paper.

As Poslovni Dnevnik writes, Marko Boras Mandic has been delving into the situation of price hikes across Croatia, which have occurred as a result of both inflation and Eurozone accession back at the very beginning of this year, and using one very basic household necessity as an example.

Marko Boras Mandic published photos of two rolls of toilet paper on Facebook, one of these rolls was bought in Italy and the other was purchased right here in Croatia. Both rolls in the photo have been weighed, the Italian one weighs 147 grams, and the Croatian one - only 69 grams. Marko Boras Mandic explained in his status what he considers to be a problem with this.

"On the left is toilet paper bought in Italy, on the right is toilet paper bought in Croatia. Their prices are equal, the Italian one is a little cheaper, but only very slightly. At first glance, they're the same price, about 4 euros for 10 rolls. But... it's not quite like that. The roll of Italian paper is much more compact and weighs 147g, while the Croatian roll weighs only 69g! So the Italian one is more than twice as heavy!

And then when you go to "unpack" the product right to the end, you come across another interesting thing. With the Croatian roll, you have exactly 120 pieces of toilet paper at your disposal, and with the Italian roll, exactly 352 pieces of toilet paper of the exact same dimensions! Let me translate - if you buy toilet paper in Italy, it will last exactly three times longer!! In other words, we're buying the same thing but it's three times more expensive.

I don't know if this post will manage to reach any portal for publication, but it would certainly be good if our regulatory agencies and consumer protection associations deal with this topic. When Croatian stores are having such enormous prices for food and household items, it would be nice if we at least knew exactly what we were getting for our money! And of course, we should know what level of quality it is! And until then, shopping will be being done in the direction of Trieste and Ilirska Bistrica.''

For more, make sure to check out our dedicated news section.

Tuesday, 14 March 2023

Zagreb Rental Market Expanding as Huge Building Construction Planned

March the 14th, 2023 - The Zagreb rental market is set to get a boost as the powers that be here in the capital are planning to building some huge buildings which will then have the apartments within them rented out.

As Poslovni Dnevnik writes, the prices of new apartments in general across the country increased by more than 20 percent last year, and here in the City of Zagreb - by more than 30 percent.

Whether the same thing will happen with apartments for rent was analysed for HRT by the First Deputy Mayor of Zagreb Luka Korlaet, real estate agent Sanjin Rastovac and investment analyst Filip Vucagic.

Rastovac said that according to statistics, the average price of apartments in Zagreb per square metre now stands at around 2,700 euros, but in reality it is difficult to find an apartment below 3,000 euros per square metre.

"If we're talking about apartments spanning 40-50 square metres, then they're often over 4,000 euros. The last example, we asked for 114,000 euros for a 30-square-metre apartment, and there were about 20 inquiries within just a few days," he pointed out, emphasising that the demand is currently much greater than the supply. Here in Zagreb, as he says, there aren't enough quality properties to meet the current high demand.

He pointed out that new builds are much more in demand than older apartments are, primarily because of the earthquake being fresh in peoples' minds. "The price of new build is currently sky high due to inflation, and then older buildings follow, taking advantage of the opportunity," he said.

When asked what the City of Zagreb is doing in this regard, Korlaet replied that Zagreb has about 6,500 apartments in its portfolio, almost all of which are occupied. "We have lists for public rent and lists for social rent. We want to bring some order to that renting process, we want to increase how many apartments are for rent and we don't want to sell them, we want to increase our portfolio,'' he explained, adding that in this sense, the plan is to expand the Zagreb rental market by building a large new build in Podbrezje with 288 apartments for rent.

As he says, all of the documentation for such a construction is there, but 320 million kuna is missing. He emphasised that they have come a long way in discussions with development banks in terms of financing and are on the threshold of being granted a favourable loan with an accompanying relatively low interest rate.

Vucagic stated that he believes that the rate of growth of property prices will slow down and stabilise. "As for APN, I don't think it was the right tool to help people buy property," he stated, adding that alterations to property tax could be what helps pull more properties into circulation.

Korlaet followed up and said that the intention with APN was good in theory, but that the reality doesn't quite match up when it comes to the Zagreb rental market.

"The measures are being taken on the wrong side. We need more supply, not more demand. All subsidies affect demand and thereby increase prices," said Rastovac, adding that people invest in property as a form of safe savings. As for the most sought-after districts for buying real estate in the City of Zagreb, there's Tresnjevka, Maksimir, Jarun, Vrbani and Sredisce, said Rastovac.

For more, check out our news section.

Tuesday, 14 March 2023

With Prices Rising, Do We Need to Worry About Croatian 2023 Tourist Season?

March the 14th, 2023 - Do we need to be worrying about the Croatian 2023 tourist season this summer as prices continue to rise? With even the faithful Germans saying that Croatia is becoming too expensive, there's room for improvement.

As Poslovni Dnevnik writes, there are currently around three and a half thousand guests staying in the wider Kvarner area, which is a very good number for this time of year. The announcements are good for spring and summer across nearby Istria as well.

However, there are more and more warnings that we have to change the trends within the Croatian tourism sector. Overcrowding is an issue nobody enjoys and which is increasing, the real estate business is booming, and the prices of both accommodation and services are rising. And it won't stop there...

Winter is coming to an end and this country's most faithful guests of all, the Germans and Austrians, are busy warming up after the cold. Owing to that, gorgeous little Opatija, a favourite of both the Germans and the Austrians, is never empty.

"We're happy that in just the first two months of this year we achieved even 40 percent more overnight stays than we did back during the record year of pre-pandemic 2019. But that's a trend where, for a decade or so now, we've been see an increase in the number of arrivals outside of the main summer season from year to year," stated Irena Persic Zivadinov, the director of the Kvarner Tourist Board.

Kvarner's many hotels have prepared various arrangements and packages aimed at attracting guests for the Croatian 2023 tourist season, but they're now more expensive, writes N1.

"Considering the input costs, of course the situation is very uncertain for the entire market. We're really trying to be flexible here, but we're also working in accordance with the rate of inflation on the entire price policy. In accordance with the rate of inflation, there will probably be an increase in prices, but again, we're doing our best to be fair,'' Ivan Sarajlic, the spokesman of a hotel group, stated.

Impressions from the largest tourist exchange which was recently held in the German capital city of Berlin are still settling in. The Germans traditionally love Croatia and have been among the country's most faithful and most frequent visitors of all for many years, but even they are raising their eyebrows at some of the prices nowadays.

"Now some other countries in Croatia's immediate neighbourhood are already seriously competing with us, such as Montenegro, which is fighting for Western tourists after losing Russian and Ukrainian tourists, and there is also Albania with its beautiful coast, which is very competitive both in terms of quality and values. The Germans are saying Croatia has become too expensive,'' warned tourist consultant Nedo Pinezic.

Both expensive and overcrowded, warned Istria County's prefect, as the Croatian 2023 tourist season rapidly approaches.

"I think that, when we talk about quantity, we've reached that certain maximum. Istria has 468,000 registered beds. If 200,000 of us live there and take into account the number of unregistered facilities among that, the question is to what number we can go? Has Istria exceeded its limit in this sense? I think it has,'' said Boris Miletic.

For more, make sure to check out our dedicated news section.

Tuesday, 14 March 2023

Break Idea: Shoulder Season in Split, Ultimate Views at Hotel Ambasador

March 14, 2023 - It's mid-March, the sun is out, we might just be safe from the notorious bura, and Split is looking as magnificent as ever. To quote TCN's own Paul Bradbury, Dalmatia is a little like malaria. Once it gets in your blood, you are screwed for life. And once you visit it during the shoulder season, you're screwed in an entirely new way. Try and resist it, though.


Paul Bradbury

While in the summer you might still want to visit the Dalmatian islands and the charming little places along the Adriatic coast, Split is a city that offers something for everyone, all (most of) the time. It could be a little complicated to appreciate its stunning architecture and rich history with insane crowds in July, but if you're looking to enjoy some sunshine that feels brand new, Split should be at the top of your list for a spring getaway. You'll have so much space to enjoy the sights you'll feel like an emperor yourself, and you'll surely get some good deals for your stay. If you'd like to enjoy the best hotel views Paul has ever seen, you might want to check out one of the best five-star deals we've found for March at the fantastic Split Hotel Ambasador.


Hotel Ambasador

The offers have been on from the beginning of March and remain valid until the month's end. For a short break, you might want to go for something called Ladies First, a package that includes a 60-minute Mediterranean Touch Massage, which is a warm oil body massage and facial massage with Adriatic shells, daily use of the Hacelia Spa zone, a "Spa Kit" – goods, towels, slippers, and free parking for 4 hours. All for €64 / HRK 482.21.


Hotel Ambasador

If you're looking to extend your stay a bit, just go for the views and make use of the Welcome Spring offer, and book a Superior room (for two). For €130.00 per night, you'll get a 20% discount on the Hacelia Spa treatment list, free use of Hacelia Spa (subject to availability), breakfast included, as well as garage parking, early check-in and late check-out (subject to availability, of course). If it sounds good but you might reconsider, cancellation is free up to 24 hours before arrival. And if you find yourself in need of a nibble, just check out that delicious menu.


It's worth mentioning that reservations can be made at +385 21 293 000 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

For more, make sure to check out our dedicated Travel section.

Tuesday, 14 March 2023

Looking for a Job in Croatia? This Week's Top 10 from (March 14, 2023)

March 14, 2023 - Looking for a job in Croatia? A new weekly feature on TCN, in partnership with leading job site agency,, who present a selection of weekly job listings.

How hard is it to find a job in Croatia, and what is on offer?

We spoke to Ines Bokan, director of leading jobs site, who kindly took the time for this excellent interview overview.  

This week's top 10 jobs from

Cuspis d.o.o. is hiring a person in the position Employee in the IT industry (m/f). Place of work Zagreb. We offer work on large national and international IT projects. Send complete applications via link by March 23th.

Nuclear power plant Krško d.o.o. is hiring a person in the position Process Informatics Engineer (m/f). Place of work Krško, Slovenia. Experience with maintenance and upgrading of hardware is required. Send complete applications via link by March 17th.

PLIVA Hrvatska d.o.o. is hiring a person in the position Scientific associate - formulator (m/f). Place of work Zagreb. Preferably a minimum of 3 years of work experience in the development of pharmaceutical products - knowledge of technological processes and principles when developing pharmaceutical formulations. Send complete applications via link by March 17th.

Le Méridien Lav, Split is hiring a person for the position of Coordinator in the human resources department (m/f). Place of work Split. We offer work in an international environment where your ideas are not only valued but also implemented. Send complete applications via link by April 10th.

Valamar Riviera d.d. is hiring a person in the position of educational content designer (m/f). Remote workplace. We offer additional benefits for Valamar employees, such as discounts on services in Valamar facilities and at partners throughout Croatia. Send complete applications via link by March 17th.

Salzburg AG is hiring a person in the position of SOC Security Analyst / Specialist (m/f). Place of work Salzburg, Austria. Our attractive salary offers are based on current market salaries and are therefore, depending on qualifications and professional experience, above the minimum salary stipulated in the collective agreement. (We are legally obliged to point out that the minimum monthly salary for this position according to the collective agreement is €4,108.55 gross.). Send complete applications via link by March 31th.

Scalable Global Solutions d.d. is hiring a person in the position of Full-Stack Developer (m/f/d). Place of work Osijek. Send complete applications via link by March 26th.

Thermo Stone d.o.o. is hiring a person in the position Human Resources Generalist (m/f). Place of work Novska. We offer a benefits package that applies to all our employees - annual performance bonus, holiday pay, meal allowance, Christmas and Easter bonus. Send complete applications via link by March 20th.

Silverhand Croatia is hiring a German-speaking recruitment assistant (m/f). Place of work Zadar. We offer the possibility of professional development in an international company with an attractive salary. Send complete applications via link by April 15th.

MED-EL Elektromedizinische Geräte GmbH is hiring a Software Developer (m/f/d). Place of work Innsbruck, Austria. Salary will be determined based on professional experience; the formal minimum salary according to the Collective Bargaining Agreement is € 41,691.44. Send complete applications via link by March 17th.

For more career options and job listings, visit



These weekly job listings will appear in the weekly TCN newsletter - you can subscribe here.


What is it like to live in Croatia? An expat for 20 years, you can follow my series, 20 Ways Croatia Changed Me in 20 Years, starting at the beginning - Business and Dalmatia.

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Croatia, a Survival Kit for Foreigners is now available on Amazon in paperback and on Kindle.

Tuesday, 14 March 2023

Manuel Strlek Goes to Slavonia, Signs With RK Nexe: "We'll be Top Cro Team!"

March 14, 2023, Nasice - A new reinforcement of RK Nexe has been presented: Croatia national team's Manuel Strlek is going to Slavonia. He will join the Nasice team next season and spend the next three years there.


Photo: Slobodan Kadic

Manuel Strlek is transferring to Nexe from Veszprem in Hungary. Alongside this European handball giant, he defended the colors of RK PPD Zagreb and Kielce from Poland. For the first time in Croatia, the signing of the contract was organized with the fans present, hundreds of whom gathered in the hall of Kralj Tomislav Elementary School in Nasice. They did not hide their enthusiasm for the reinforcement, which gives realistic prospects for RK Nexe to remain at the top of Croatian and European handball, perhaps more.


Photo: Slobodan Kadic

"I have been following what Nexe is doing in European and domestic competitions for a long time, and I knew that it was a serious and brilliantly organized sports team. But when the club leaders presented their development plans to me, I was delighted and didn't have much doubt. I am happy that after Veszprem, I will again play in a place that lives for handball, as evidenced by the many fans who came to greet me and are the best confirmation that I made a good decision. Thank you to everyone from RK Nexe for welcoming me the way only Slavonians know how, with big hearts and smiles. I promise that I will repay them all with quality matches and that we will raise the club's already high ambitions and fight for the very top in domestic and European competitions", said Manuel Strlek.


Photo: Slobodan Kadic

Even Josip Ergovic, president of RK Nexe, did not hide his enthusiasm.

"We are proud of this sensational reinforcement, which ensures the continuity of top handball in Nasice. After Jelinic left, we decided on this, the biggest return transfer in Croatian handball history. We want Manuel Strlek to feel at home here and delight our loyal fans at matches, just like we did today at the contract signing. He is a top handball player, a member of the Croatian national team who defended the colours of the strongest European teams and justifies our high handball ambitions. That's why we decided to have a slightly bigger celebration after signing the contract, for Manuel to get to know Nasice and our great love for RK Nexe and handball. RK Nexe will win the title of Croatian champion during Manuel Strlek's contract", said Ergovic, stressing that Nexe, as the 16th best club in Europe, will have more transfers for the next season.


Photo: Slobodan Kadic

For more, make sure to check out our dedicated Sport section.

Tuesday, 14 March 2023

2022 Croatian Company Alfatec's Most Successful Year Yet

March the 14th, 2023 - The Croatian company Alfatec announced its business results for the past year last week, and it's clear to see that 2022 was the company's most successful yet.

As Poslovni Dnevnik writes, just last week, the Croatian company Alfatec announced its business results for the past year in front of a group of journalists at the Wespa Spaces premises in the City of Zagreb at the first #1 Alfatec Press Brunch.

As well as announcing a very successful 2022, a short retrospective of Alfatec's 30+ years of existence was givem. 33 years ago, Drago Kornfeld started the Croatian company Alfatec as a family company with a mere three employees, which quickly positioned itself as one of the most successful domestic IT companies on the now absolutely blossoming scene.

In just the past year, the Croatian company Alfatec's financial results have grown by a very impressive 80 percent, and all of this is a positive example of a successful generational change from father to son, which is a unique example in the Republic of Croatia. The past year has also been significant in terms of the personnel expansion of Alfatec, where the number of employees increased by more than 30% with a 10% salary increase to boot.

Many new employees also came through student fairs where Alfatec is present every year (FER, FOI and PMF).

Kristina Simac, the financial director of the Croatian company Alfatec, confirmed that the year 2022 was one of the most successful in the history of this company.

"In the past year, our revenues increased by about 80%, and exports grew by 65%. Together with those set for this year, the investments will amount to more than half a million euros," Simac pointed out. Despite the negative trends being experienced across the IT industry, where this year started with intense layoffs, the Croatian company Alfatec plans to work intensively on additional personnel reinforcements in the form of data engineers, machine learning engineers, full stack developers and other similar experts.

Even more export growth is also planned for Alfatec, where growth is predicted across all business segments with an emphasis being placed on the export of its own solutions.

For more, make sure to check out our dedicated business section.

Tuesday, 14 March 2023

Croatian Jadroplov Fleet to be Boosted With Another Vessel

March the 14th, 2023 - The Croatian Jadroplov fleet is set to be boosted with yet another vessel which will sail under the Croatian flag after having been given the green light from the government.

As Poslovni Dnevnik/Marija Brnic writes, yet another vessel for the transport of liquefied petroleum gas (LPG) will soon sail under the Croatian flag - a part of some new reinforcement of the Croatian Jadroplov's fleet. The Croatian Government recently approved the purchase of another vessel with HBOR, making it the second in less than one year.

It's important to emphasise that this doesn't act as an actual guarantee for the loan, and it is merely an approval, which is necessary since it is a company majority-owned by the state and with a debt of more than one million euros. More specifically, we're talking about loans in the amount of 15.2 million US dollars, with a repayment period of 10.5 years and a grace period of six months, and with an interest rate of 6.48%.

Cooperation with the Japanese

For this Split-based shipping company, this is an additional spring in its step pushing it back up from the bottom it has unfortunately been stuck in in for years now, and the government will still continue to provide it with insurance and credit for the implementation of its entire financial rehabilitation.

All of this is a prelude to the announced recapitalisation, which should strengthen Jadroplov and see it go from 150 million kuna to 350 million kuna. According to the announcement of the President of the Management Board of Jadroplov, Ivan Pavlovic, the recapitalisation would also provide a basis for continued cooperation with the Japanese shipyard where the two LPG ships, named Marko Marulic and Vis, have been constructed so far, with the plan being that future ships will be able to transport other types of cargo that require cooling.

Although doubts have already begun to appear about the realisation of the recapitalisation, Pavlovic has confirmed that it is being worked on, InterCapital has been engaged, and it will be realised in the typical way, with the issuance of a prospectus and with the approval of Hanfa, the announcement of a public offer and the listing of new shares on the stock exchange.

"We're going forward with the recapitalisation this year", Pavlovic explained, who has been visiting investors for a long time and talking about their involvement in this big undertaking for Jadroplo. Most of all, he says, he wanted pension funds to be involved, but they made it clear to him that they weren't interested in investing in such a volatile activity.

The ideal investors for Pavlovic would be, for example, INA, and he's prefer Croatian shippers, but due to the weak interest in the domestic market, Pavlovic is also talking to people abroad, including shippers in Greece and Turkey, and he is currently going as far as to Japan for talks.

"This is a good model for Jadroplov, because shipping has almost disappeared in Croatia and Split, and with the ongoing modernisation of the Croatian Jadroplov fleet and turning to other niches, trust is gradually returning," said Pavlovic, who hopes that others will recognise this and participate in the recapitalisation process. In addition to entering a new business with LPG, Jadroplov intends to further disperse its business, and their ambitions are turned towards ferry transport.

The already prepared project, for which the ship's builder, the 3 Maj shipyard from Rijeka, has been selected, will apply to the tender for non-reimbursable EU funds intended for the development of green technology, and it regards an electric ferry worth 50 million euros. The ship would carry one thousand passengers and 150 cars and would be the first electrically powered ferry of its size in all of Europe. This project is also a way to send out the message to investors that the new Jadroplov has transformed for the better.

A good couple of years

Over the past two years, Jadroplov operated with a profit, in 2021 more than 100 million kuna was realised, which covered losses from earlier years, and according to the first unaudited data for 2022, 87.4 million kuna was realised. However, the company is troubled by its old obligations, and because of that, it requested and received approval from the government to extend the repayment of the remaining obligations for the loan taken back in 2016 for the sake of financial stability.

Due to the moratorium that was made possible during the coronavirus pandemic, at the end of March, a total of 3.95 million US dollars of principal has to be paid, which Jadroplov will pay out over the next three years. In the meantime, the recapitalisation should ensure further safe navigation for this Split-based company and the new vessel joining the Croatian Jadroplov fleet.

For more, make sure to check out our dedicated business section.

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