April 18 (SeeNews) - Representatives of China Shipbuilding Industry Corporation will visit Croatia's troubled shipyards Uljanik [ZSE:ULPL-R-A] and 3 Maj later this month or in early May to discuss possible cooperation, the government said.
The visit is expected to take place between April 25 and May 10, the government quoted prime minister Andrej Plenkovic as saying in an interview with public broadcaster HRT on Wednesday evening.
Plenkovic made the announcement after a high-level Chinese delegation led by prime minister Li Keqiang visited Croatia last week for the summit of 17 Central and Eastern European countries and China in Dubrovnik.
"We also discussed this in Beijing last November, and I'm not surprised by their decision to visit Croatia so soon," Plenkovic said.
Earlier on Wednesday, the Rijeka commercial court rescheduled for June 5 the hearing at which it was to decide whether to open bankruptcy proceedings against 3 Maj shipyard.
On March 5, Croatia's financial agency FINA asked a local court to open bankruptcy proceedings against Uljanik shipyard over an outstanding debt of 28.2 million kuna. Later the same month, Croatia's government said it cannot endorse a proposal for restructuring of struggling shipyards Uljanik and 3 Maj, as the operation would require a huge financial exposure by the state.
The Uljanik Group comprises two major shipyards -- Uljanik and 3 Maj, along with smaller subsidiaries. The group has been in financial trouble for some time due to the adverse effects of the global financial crisis on the shipbuilding sector in general which has led to a drop in orders for new vessels.
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