Ukrainian billionaire Vadim Novinsky is interested in buying Croatia's struggling Uljanik yard group.

The Russian-born owner of metals and yard company Smart Holding met Croatian economy minister Darko Horvat on Thursday.

Horvat said more would be known about a potential bid after Novinsky had visited the Uljanik and 3 Maj plants in Pula and Rijeka.

"The first meeting and the first contact has been made.