Kuzey Star's $13.9 million bid for Croatia's Uljanik shipyard is accepted, pending official approval, marking a significant step in shipbuilding expansion.
Kuzey Star Approaches Completion of Tender for Croatian Uljanik Shipyard
Turkish shipbuilding company Kuzey Star has passed a significant milestone in the process of acquiring Uljanik Brodogradnja 1856, one of Croatia's historic shipyards. Kuzey Star's bid of $13.9 million has been accepted, while the official approval process for the transfer is ongoing.
A significant development has occurred in Turkey's international expansion in the shipbuilding sector.
Kuzey Star Shipyard has emerged as a frontrunner in the tender for the majority shares of Uljanik Brodogradnja 1856, which operates in the city of Pula, Croatia, and continues the historic tradition of the Uljanik shipyard.
In the tender opened for the sale of shares owned by the Croatian state, Kuzey Star's bid of $13.9 million was accepted. The approval of the Croatian Ministry of Finance is awaited for the completion of the sale.
Turkish Investor for Croatia's Historic Shipyard
Based in Pula, Uljanik is known as one of the oldest shipyard brands in Europe. The shipyard has historically held a significant position, particularly in the construction of large-tonnage commercial vessels.
With Kuzey Star's investment, the aim is to restructure Uljanik, enhance its production capacity, and strengthen its position in the international shipbuilding market.
Kuzey Star's European Ambition
Kuzey Star Shipyard, based in Tuzla, operates in new ship construction, maintenance-repair, conversion, and modernization projects. The company continues to pursue its growth target in the international market with LNG vessels, Ro-Ro projects, and specialized conversion works.
The Uljanik investment is considered one of the steps to increase the presence of the Turkish shipyard sector in Europe.
Target Capacity Increase in the New Era
According to industry sources, Kuzey Star's plans regarding Uljanik include evaluating the existing infrastructure of the shipyard, increasing new ship construction capabilities, and enhancing competitiveness in the European market.
After the completion of the transfer processes, it is expected that the shipyard in Pula will be revitalized as a strong production center.
Source: SeaNews Türkiye
