Croatian motorway operators ARZ and HAC to merge
- by croatiaweek
- in Business
ZAGREB, May 21 (Hina) – The Autocesta Rijeka (ARZ) and Hrvatske Autoceste (HAC) motorway operators will merge, and the Krk Bridge toll will be abolished as of June 15, the government decided on Thursday.
Prime Minister Andrej Plenkovic assessed this merger as an important procedure paving the way for the repeal of the toll on the Krk Bridge as of June 15 already and leading to greater efficiency in motorway management.
The Sea, Transport and Infrastructure Minister Oleg Butkovic said that decisions to this effect had been in preparation for the past year and a half and now the process of ending the concession for ARZ is starting, as is the process to merge the two state-run motorway operators which could last for several months.
“This decision also abolishes tolls to cross the Krk Bridge as of June 15,” Butkovic underlined, adding that the “merger of ARZ and HAC is the continuation of the project to streamline the business and financially overhaul the road sector in an effort to achieve a sustainable business model of state-owned motorway and road management companies.
Guarantee issued to HAC for HRK 300 mn loan
The government also gave a green-light to HAC to take a loan of HRK 300 million from the Croatian Postal Bank (HPB) for operating capital and provided a government guarantee for that amount.
The government adopted a report on negotiations on the conclusion of a guarantee agreement with the European Bank for Reconstruction and Development (EBRD) to finance part of the completion of Croatia’s section of the Vc corridor and on negotiations for a loan agreement between HAC and EBRD to finance the completion of the Corridor Vc motorway.