Croatian economy minister Martina Dalic has urged the management of Uljanik Group to focus on its restructuring after the EU approved EUR 96m ($117m) of state loan guarantees.

She said the aid was "a stopgap" and called on bosses to finalise the refinancing and choose a strategic investor.

Italy's Palumbo yard group and Croatian shipbuilding tycoon Danko Koncar have expressed an interest in investing.