January 16 (SeeNews) - Croatia's government said it decided to provide a state guarantee to local shipyard Brodotrogir Cruise for a borrowing worth 4 million euro ($4.3 million), which equals 80% of a total value of a loan needed to complete the construction of a vessel.
The government has already issued a state guarantee for the initial phase of the construction of the same vessel, economy minister Davor Filipovic told a weekly cabinet meeting on Friday.
The new guarantee concerns the second phase of the construction of a vessel number 370, commissioned by Norwegian supplier of vessels to the aquaculture industry Moen Marin AS, according to documentation published on the government website.
The overall contracted price of the fully equipped vessel is 6.1 million euro, as the initial phase is valued at 890,000 euro and the second one amounts to 5.25 million euro.
The vessel is 24 metres long and11.2 metres wide and could be used as a fishing ship or a working service ship for the aquaculture industry.