Privatization Agency to make decision on destiny of Yugoslav River Shipping prior to February 5th

- The Privatization Agency will decide this week whether to cancel the contract with company EDDSG from Vienna on privatization of Yugoslav River Shipping (JRB) - people from the Agency told Beta today (February 1, 2010.

The contract, which was signed one year ago, anticipated the payment of 24.5m EUR by EDDSG for 70% of capital and the investment of 15.7m EUR in JRB, but that company did not even pay the first installment after the deadline extension.

If the contract is canceled, the Agency will collect the banking guarantee of 1m EUR from the Vienna-based company, of which owner is Zoran Drakulić.

In case of cancellation of the contract, the Agency should decide whether to start the negotiations on sale of JRB with the second-ranked bidder - the consortium comprising French company CFNR, Dunavski lloyd from Sisak and shipyard Bomex from Zrenjanin.

That consortium offered the price of 8.4m EUR and the investment program of 15.2m EUR.

That was the second tender for sale of JRB, and it was announced at the end of June 2008.