December 8 (SeeNews) - Adriatic Croatia International Club [ZSE:ACI-R-A] said on Thursday it will invest 161.6 million kuna ($23.1 million/21.4 million euro) in a revamp of a yacht marina it operates in Rovinj, more than initially planned.
The investment was approved by the company's supervisory board on December 7, ACI said in a filing with the Zagreb bourse.
The funds will be spent to upgrade the Rovinj marina to a higher category, enabling the docks to meet the needs of larger vessels while expanding additional services available to boaters.
Earlier this year, ACI said it will invest 124.1 million kuna in Rovinj.
The marina in Rovinj has 407 berths and 40 dry berths.
Opatija-based ACI operates 22 marinas.
The Croatian state, through various government agencies, owns over 78% of ACI. Dogus Marine Croatia is the second largest shareholder with a 10.87% stake.
(1 euro=7.53764 kuna)