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Croatian State Companies to Increase Investment 25% in 2012

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Oct. 22 (Bloomberg) -- Croatia’s state companies expect to increase investment 25 percent in 2012 from a year earlier, focusing on infrastructure and energy projects, Economy Minister Radimir Cacic told reporters in Zagreb today.

Eight state companies have invested 710 million euros ($926 million) in the first nine months, mostly in highways and gas pipelines as well as into a container terminal on the island of Krk and thermoelectric plant Sisak, he said.

INA Industrija Nafte d.d., the oil refiner controlled by Hungary’s Mol Nyrt., still has to make public its investment results for the year, Cacic said. Croatia owns 44.84 percent in the Zagreb-based company, while Mol holds a 49.1 percent stake.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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