December 22 (SeeNews) - Luka Rijeka [ZSE:LKRI], the operator of Croatia's main Adriatic port, said a 48.5 million kuna kuna ($7.3 million/6.5 million euro) revamp of its Bakar bulk cargo terminal has been completed.
A total of 85% of the value of the works has been provided from the EU's funding instrument Connecting Europe Facility (CEF), Luka Rijeka said in a filing to the Zagreb bourse on Tuesday.
A contract to carry out the works was signed in February 2020 between Luka Rijeka and a consortium of local construction company GP Krk, Colas Rail Croatia and its French parent company Colas Rail S.A.S., a supplier of railway infrastructure services. The project included works on the reconstruction of Bakar's railway, transport and storage infrastructure, and adjacent community infrastructure.
The Croatian government, which controls 25% via its centre for enterprise restructuring and privatisation, CERP, is the largest shareholder in Luka Rijeka, followed by Poland's Rubicon Partners Ventures with a 17.51% stake, according to Zagreb bourse data.
Luka Rijeka's shares last traded on Monday, when they closed 6.52% higher at 29.40 kuna.
(1 euro = 7.514 kuna)