BRATISLAVA, March 21, (WEBNOVINY) — The traditional shipbuilder Slovenske Lodenice Komarno Bratislava (SLKB) will likely get a helping hand. The Cabinet on Wednesday approved a paper suggesting that it be Eximbanka and possibly commercial banks that provide solutions to the ailing firm. “The passed resolution just says that Eximbanka shall deal with this point and find potential solutions to help the company as it is an important employer in the region of southern Slovakia,” State Secretary of the Economy Ministry Kristian Takac (SaS) reported. “We are interested in preserving production at this company,” Agriculture Minister Zsolt Simon (MOST-HID) added.
SLKB drafted respective technical documentation and is ready to kickstart construction of at least eleven ships for six renowned German and Dutch companies unable to get a long-term loan from banks in their countries as a result of the financial crisis. According to the resolution, Eximbanka is to finance exports of at least three ships in 2012 and production of 3-4 more ships in 2013. The paper works with two variants. The shipyard will deposit 20-30 percent from its own capital and the rest will come from a commercial bank in the form of a 12-year loan covering 70-80 percent of the price of the ship. A state institution will provide insurance for this loan. Talks with commercial banks have already started. Under the second scenario, SLKB will give 20-30 percent from its own capital and the rest will be provided by Eximbanka in the form or a loan covering 70-80 percent of the price of the ship.
The shipyard cannot start building ships unless the customer secures the funding and provides a bank guarantee for the payment of the purchase price in favor of the shipyard. SLKB will have to lay off 250 employees unless it commences construction of another ship within two months.
SITA