"The area of ​​TEF will be what we promised the citizens, which is a unique mixed-use zone with urban planning. The construction of hotels and sports facilities, the extension of the beach, traffic connections and all other facilities that will benefit the people of Šibenik and their guests are planned", said the Mayor of Šibenik Željko Burić at this week's session of the City Council of the City of Šibenik.

With the decision of the Šibenik city councilors, the TEF space finally got the green light for new investments and inclusion in the life of the city. The establishment of the Batižele company was confirmed, through which the City of Šibenik, together with the Republic of Croatia, controls the area of ​​the former Electrode and Ferroalloy Factory. This attractive location of 28 hectares in a mixed-use zone, after more than 20 years of blockade, is being repurposed into a space open to interested investors.

Land worth HRK 350 million was transferred from TEF to the new company Batižele, as well as most of TEF's liabilities. The state, at the expense of its claims from TEF, will recapitalize the new company and remove the mortgages from the land. The basic capital of the Batižele company is HRK 148.5 million, while the value of real estate in the amount of HRK 21 million remains with the TEF company. Let us remind you that in early August, the Government of the Republic of Croatia made a decision to accept the Batižele project, which would put the valuable land of TEF into operation, within a year.

In cooperation with the Ministry of State Property, the City of Šibenik will enable the return of investments of the City of Šibenik, as well as the Republic of Croatia, after the division with the establishment of a new company and recapitalization.

The TEF land issue has been a long-standing problem for all city authorities in Šibenik, as it is a 28 ha area located in the center of Šibenik, only 500 meters away as the crow flies from the city center and the Cathedral of St. Jacob. According to the GUP of the City of Šibenik, the area of ​​the former factory is planned to be converted into a mixed use where a new settlement, residential-business, cultural and educational as well as hospitality-tourist facilities would be built. The traffic connection and infrastructural equipment of this area enables the development and construction of high-quality hotel, sports and nautical facilities, due to which it is expected that TEF will once again be the bearer of the entrepreneurial and tourist potential of the City of Šibenik.

  Published: 14.09.2018