February 4 (SeeNews) - Croatia's state assets minister Mario Banozic said that the urban development plan needed for the launch of the 1.0 billion kuna ($148 million/134 million euro) Kupari I resort project is in the final stages of preparation.
The urban development plan for the project will be shortly adopted by the southern municipality of Zupa Dubrovacka, Banozic said in a statement on Monday.
Once the document is adopted, the investor - local company Avenue Ulaganja - will have to apply for location and construction permits and will have 30 days to present to the ministry a contract with a hotel operator that will run the complex, Banozic said.
In early 2016, Croatia signed a concession deal for the Kupari project with Avenue Ulaganja, which is backed by Russian capital, saying that the project would be completed in two to four years.
The Kupari tourism complex, located in the southern Dubrovnik-Neretva county, is a disused former recreational facility of the military. It includes several large hotels that were severely damaged during the Croatian war of independence.
(1 euro = 7.45196 kuna)